- SEEGENE POSTS KRW 193.9 BIL. IN OPERATING PROFIT, UP 388% ON-YEAR - OPERATING PROFIT RATIO AT 55%, DESPITE CONSTANT INVESTMENT IN R&D AND EMPLOYEES Seegene Inc. (KQ 096530), a molecular diagnostics company reported its financial results for the first quarter of 2021, with reports showing robust earnings. The biotechnology firm posted KRW 351.8 billion in consolidated revenue, a 330% increase compared to the same period last year and a record for the first quarter. Operating profit at KRW 193.9 billion, also up 388% on-year, reflecting steady growth in its sales of diagnostic tests. Seegene’s Senior Managing Director of IR and PR Department Myungkun Kim said “the company was able to manage 55% of annual operating profit ratio, a clear reflection of its ability to effectively manage the firm despite the constant investment in R&D and expansion of manpower.” He added that “once investments come to fruition, the operating profit ratio will likely surge even further.” Kim added “Seegene’s thriving performance had been backed with continuous surge in demand for variant diagnostic tests and as more governments around the world are reeling back to normalcy with mass examinations at schools and workplaces.” He said the company is expected to see additional surge in sales through entering new markets as well as launching new products and technologies.” The head of IR and PR Dept. added that “although the second quarter is predicted to show comparable sales volume to that of the first quarter, due to a delay in supply deals being reflected onto actual sales figures, the latter half of the year however looks even more promising.” Seegene had previously secured public procurement for COVID-19 diagnostic tests in Italy worth over EUR 89.3 million, a separate public tender agreement in Scotland worth 16,209,150 GBP and a supply deal in Germany worth EUR 19.3 million.
May 12, 2021View Detail >
- SEEGENE BACKS GERMANY IN ITS EFFORT TO RETURN TO NORMALCY - GERMAN SUBSIDIARY TO SUPPLY COVID-19 DIAGNOSTIC TESTS ENOUGH TO TEST 734,000 PUPILS Seegene Inc. (KQ 096530), a leading molecular diagnostics firm said its German subsidiary, Seegene Germany GmbH is taking part in the government’s Back-to-School program called the “Lolli-Test,” a starting point in returning our daily lives back to normalcy. Under the program, Seegene Germany GmbH will be supplying COVID-19 diagnostic tests to laboratories, in business with the federal government, worth up to 19.3 million Euros. The deal states that Seegene Germany GmbH contribute COVID-19 diagnostic tests to laboratories weekly for nine weeks starting May until before the start of the summer break. The diagnostic tests will then be sent to some 400 laboratories in the North Rhine-Westphalia region to test over 734,000 pupils at 3,764 elementary and special schools. Three of Seegene’s COVID-19 diagnostic, the ‘AllplexTM SARS-CoV-2 Master Assay1’ ‘AllplexTM SARS-CoV-2/FluA/FluB/RSV Assay2’ and ‘AllplexTM SARS-CoV-2 Assay3’ will be used for the program. The ‘AllplexTM SARS-CoV-2 Master Assay’ can detect a total of 10 targets including four coronavirus genes (E gene, RdRP gene, N gene and S gene) as well as five defined virus variants. Those variants include B.1.1.7, B.1.351, P.1, and B1.1.207. With UK variant still being reported as the most dominant of COVID-19 variant, it is largely anticipated that the variant diagnostic test will be mainly used for the program. The ‘AllplexTM SARS-CoV-2 Master Assay,’ can also be used in conjunction with ‘AllplexTM RV Essential Assay’ a one-step assay for screening a total of 17 target causative viruses for respiratory infections. It’s an ideal way of screening coronavirus genes as the pandemic continues to rage after being coupled with a number of contagious variants. The variant diagnostic test has acquired CE-IVD mark in March and was first exported to European countries and Chile last month. Other diagnostic tests, the ‘AllplexTM SARS-CoV-2/FluA/FluB/RSV Assay’ is a real-time PCR assay that can simultaneously detect and differentiate eight target genes, including Flu A, Flu B, RSV A/B and three different target genes of COVID-19 (S gene, RdRP gene and N gene). The multiplex assay can be used to differentiate individuals with common flu and COVID-19, both of which show identical symptoms fever and cough. Seegene’s ‘AllplexTM SARS-CoV-2 Assay’ can detect a total of five targets including four coronavirus genes (E gene, RdRP gene, N gene and S gene) and an exogenous control (entire process control in a single reaction tube, allowing accurate results and maximize throughput for high volume testing. Such diagnostic test is critical in precisely detecting the existence of coronavirus, especially as new variants continue to emerge worldwide. Ho Yi, Chief Sales and Marketing Officer of Seegene said through the program, the company hopes to fully back German government’s push to return to normalcy starting with schools. He added that Germany’s project become a model for other economies around the world and Seegene will help governments get back to pre-COVID-19 life.
May 11, 2021View Detail >
Second public procurement agreement after Italy’s procurement deal worth EUR 89.3 million Seegene Inc. (KQ 096530), a leading biotechnology firm said it began supplying its COVID-19 diagnostic tests worth 16,209,150 GBP to Scotland under a public procurement agreement, the largest diagnostic volume seen in that region since the pandemic. Compared to Seegene’s annual sales tallied in Scotland, the supply contract is worth triple the volume in 2020, which came in at 5,400,000 GBP. Under the supplying deal, Seegene’s Scotland dealership, Mast Group, will be supplying AllplexTM SARS CoV-2 to the National Health Care Scotland NSS, which will then be distributed to 9 hospitals including Royal Infirmary Edinburgh and Ninewell starting in April. Seegene’s COVID-19 diagnostic test, the AllplexTM SARS CoV-2 Assay is a unique multiplex real-time PCR assay that can detect a total of five targets including four coronavirus genes (E gene, RdRp gene, N gene and S gene) and an exogenous control (entire process control) in a single reaction tube, allowing accurate results and maximize throughput for high volume testing. The diagnostic test previously acquired CE-IVD mark in June 2020. Ho Yi, Chief Sales and Marketing Officer of Seegene added that depending on the demand from Scottish government, Seegene is willing to switch COVID-19 diagnostic tests with its recent variant test, the AllplexTM SARS-CoV-2 Master Assay and AllplexTM SARS-CoV-2 Variants l Assay. Seegene’s unique variant diagnostic test can detect COVID-19 and screen multiple virus variants simultaneously with a single multiplex real-time PCR test in less than 2 hours. The variant test can detect virus variants including U.K. lineage of concern B.1.1.7, B.1.351, P.1 and B.1.1.207. The variant diagnostic test can also be used with ‘Allplex TM RV Essential Assay, a one-step assay for screening a total of 17 target causative viruses for respiratory infections. The AllplexTM SARS-CoV-2 Variants l Assay can also detect and differentiate virus variants while also pre-screen suspicious new variant. The variant diagnostic test can identify virus variants including B.1.1.7, B.1.351, P.1 and B.1.525. Seegene recently began exporting both AllplexTM SARS-CoV-2 Master Assay and AllplexTM SARS-CoV-2 Variants l Assay to over 20 countries around the world, including the hardest hit European countries including the UK, Italy, Germany as well as Chile after having acquired CE-IVD mark in March. Yi said with all 9 hospitals already having been fully equipped with Seegene’s multiplex PCR equipment, the Korean firm hopes the public procurement agreement will help lead to additional diagnostic tests sales like Seegene’s STI and HPV assays. Seegene’s exceptional technological skills are being recognized once again through a series of public procurement agreements including the most recent tender deal secured in Italy via its subsidiary office, worth over EUR 89.3 million. Yi said Seegene hopes to realize additional market expansion soon through its aggressive marketing strategies elsewhere around the world.
Apr 22, 2021View Detail >
Seegene can produce 300,000 variant diagnostic test kits, capable of testing 30 million people every month SEOUL, Korea (April 12, 2021) – Seegene Inc. (KQ 096530), a biotechnology company specializing in molecular diagnostics, announced today that it has secured an export permit from South Korea’s Ministry of Food and Drug Safety to begin exporting its COVID-19 variant tests to countries around the world. The leading biotechnology firm said its supplying of the coronavirus variant diagnostic test will revamp the global efforts in countering the pandemic, coupled with more contagious and deadly virus variants. Seegene’s latest COVID-19 variant tests, the ‘AllplexTM SARS-CoV-2 Master Assay’ and ‘AllplexTM SARS-CoV-2 Variants I Assay’ are being shipped to over 20 countries around the world, including the hardest hit European countries including the UK, Italy, Germany, France as well as Chile. Both variant diagnostic tests have previously acquired CE-IVD mark in March. After previously having secured extensive production facilities for mass production, Seegene said it can produce 300,000 variant diagnostic test kits, capable of testing 30 million people every month. “The variant diagnostic tests will alleviate the burdens on medical professionals around the world, by simply supplying variant detection with a simple PCR test, allowing for more thorough infection prevention measures in handling of the pandemic,” said Dr. Jong-Yoon Chun, CEO of Seegene. The ‘AllplexTM SARS-CoV-2 Master Assay,’ the world’s first-ever variant diagnostic test, can detect COVID-19 and screen multiple virus variants simultaneously, in less than 2 hours with a single multiplex real-time PCR test. The variant test can detect virus variants including B.1.1.7, B.1.351 and P.1. The ‘AllplexTM SARS-CoV-2 Master Assay,’ can also be used in conjunction with ‘AllplexTM RV Essential Assay’ a one-step assay for screening a total of 17 target causative viruses for respiratory infections. The ‘AllplexTM SARS-CoV-2 Variants I Assay’ can detect and differentiate mutations in variants, while also pre-screen suspicious new variant, providing insight on additional variations. This variant diagnostic test can identify mutations in variants including B.1.1.7, B.1.351, P.1 and B.1.525, utilizing at least ten of its proprietary technologies, including multiplex real-time PCR method of mTOCETM, a cutting-edge technology that only Seegene can leverage. Also using its original technology of endogenous internal control system, Seegene’s latest variant tests allow the less-invasive saliva sampling method a viable option. “I hope all people around the world can resume normalcy and return to living healthy lives through Seegene’s COVID-19 variant diagnostic tests,” said Dr. Chun. “Seegene will continue to closely monitor developments on the virus variant front and provide additional variant tests to help contain the spread of the virus and put an end to the pandemic.” The coronavirus variant, first identified in the UK last year has now spread to over 114 countries around the world, becoming the most common strain of COVID-19 in the U.S. Also known as B.1.1.7. the so-called “UK variant” has proven to be not only more contagious but also deadlier, raising alarm across the world. Other variants of concern, the B.1.351, the variant first detected in South Africa has been found to reduce the effectiveness of some vaccines, leading to growing calls for more speedy and accurate diagnostics.
Apr 13, 2021View Detail >
South Korea’s leading molecular diagnostics firm Seegene Inc. (KQ096530) said Friday it is supporting the Mexican government’s push to return life to pre-pandemic days. During a ceremonial event held in Mexico City on Thursday local time, Seegene donated 50,000 COVID-19 diagnostic tests, 100 refrigerators to store both diagnostic assays and coronavirus vaccines and 20,000 protective face masks to Mexico’s Ministry of Health, to help combat the pandemic. The donated goods will be distributed by the Mexico’s MOH to clinics and hospitals nationwide. The General Director of Seegene Mexico, Sun-kyung Jung said the “donation to the Latin American country, the second of its kind, comes as Seegene supports the Mexico’s federal government’s push to reopen schools and businesses.” He added that the company “fully backs Mexican communities to overcome the pandemic and return to normalcy.” Seegene had been constantly backing communities around the world including Europe and the U.S. wishing for their swift return to pre-pandemic days by supplying COVID-19 diagnostic tests. The Korean biotechnology firm said that it aims to expand its social responsibility to Latin America, starting with Mexico. Seegene’s COVID-19 diagnostic test can be interchangeably used with a saliva sample collection feature, allowing for both nasopharyngeal specimen collection feature to be used for multiplex real-time PCR tests in screening the novel coronavirus. The less-invasive saliva test is an easy and convenient method in gathering specimen samples without compromising sensitivity and specificity of the test, also laying an optimized setting for massive testing. Seegene is also finalizing certification process for its variant diagnostic tests that can detect COVID-19 and screen multiple virus variants with a single multiplex real-time PCR testing, after having recently acquired a CE-IVD mark. Also in attendance of the ceremony was Martha Delgado Peralta, Undersecretary for Multilateral Affairs and Human Rights at the Mexican Foreign Ministry, Juan Ferrer, the general director of INSABI, Korea’s Ambassador to Mexico Suh Jeong-in, the head of the KOTRA regional office for Latin America Kim Ki-joong as well as the General Director of Seegene Mexico. Vice Minister Peralta, at the event, expressed her appreciation to both Korean government and Seegene Mexico for the donation in times of need. Seegene had previously donated COVID-19 diagnostic tests, refrigerators and face masks as it hopes to aid the Mexican City government in suppressing the pandemic in early December. The General Director of Seegene Mexico said the company will continue to fulfill its social responsibility in helping to contain the spread of the diseases. Mexico’s health ministry reported a total of 2,250,458 confirmed cases of COVID-19 and 204,147 accumulated death’s as of the first Sunday of April.
Apr 09, 2021View Detail >
Apr 10, 2020View Detail >