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Abnova Enters Third-Party Diagnostic Market in China


2017/09/11


Neihu, Taiwan (September 11, 2017)

On September 8, 2017, Abnova Corporation enters third-party diagnostic market in China through its wholly owned subsidiary, Wellconn Genomics (Dongguan), focusing on liquid biopsy testing services and molecular diagnostics in precision medicine.

Wellconn Genomics (Dongguan) is located in Songshan Lake Science and Technology Industrial Park, Dongguan city, China. Through Wellconn Genomics (Dongguan), Abnova Corporation and the top-tier Dongguan People's Hospital (class 3-A) reached agreement to establish “A Center for Liquid Biopsy Testing and Precision Medicine" and leverage their mutual expertise in the tumor detection and clinical applications. Abnova Corporation will provide a total solution, including accessing to a sophisticated microfluidic platform and bioreagents for CTC isolation and molecular diagnostics, to more than 5,000 cancer patients yearly in Dongguan People's Hospital. The aim is to improve the quality of diagnosis, detection and monitoring of cancer patients and their treatment, while driving the deployment of CTC liquid biopsy testing in China.

In December 2016, China's National Health and Family Planning Commission issued a new policy to encourage private investments in setting up independent medical laboratories in China. With the progresses of the hierarchical medical system, the model of clinical test outsourcing to reliable independent medical laboratories will make possible to resolve the problem of inadequate grassroots medical institutions and regional diagnostic capacity. In consideration of healthcare cost containment, the rapid growth of clinical test outsourcing is expected in China. Since the identification of precision medicine as one of its key strategic sectors in China’s 13th Five-Year Plan, it opens up new business opportunities ranging from the drug development process to personalized medicine.

The independent medical laboratories accounted for about 35% of the diagnostic market share in the US, and more than 60% in Germany and Japan, but are still in the early development stage in China. The overall revenue in 2015 was 5.6 billion, accounting for only about 2% of China's diagnostic markets. The business opportunities of precision medicine in China will be expected to increase dramatically in the tumor detection and diagnostic services.

About Abnova


Abnova has established a comprehensive portfolio of fully integrated solutions to address the needs of the in vitro diagnostic (IVD) industry. Abnova provides its partners and customers access to the technologies, products and services relating circulating rare cell, circulating exosome, and circulating cell-free RNA for early to metastatic and recurrent disease and treatment diagnosis, guidance, prediction, and monitoring. Abnova facility is ISO13485 and GMP certified for bioreagent and automation development and manufacturing for clinical trials and IVD commercialization. (www.abnova.com)


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