SEOUL, Korea, June 18, 2019 ? Seegene Inc. (096530.KQ), a leading developer of multiplex PCR technologies headquartered in South Korea, announced today the formation of a new subsidiary, Seegene do Brasil Diagnosticos Ltda., in Belo Horizonte, Brazil.
Seegene do Brasil Diagnosticos Ltda plans to gain its market share by bringing in former agent members as a new management team. With their expertise and experience, Seegene will directly manage its existing and new clients and further expanding its client base.
Brazilian IVD market is rapidly growing with the largest share in Latin America at US$2 billion. Due to high entry barrier, such as complicated approval processes, complex customs clearance and tax systems, Seegene has decided to develop, manufacture and commercialize products in Brazil through Seegene Brazil Diagnostics LTDA.
Seegene has obtained approval from Agencia Nacional de Vigilancia Sanitaria (ANVISA) for extraction instruments and 20 of our flagship products, Allplex™, including sexually transmitted disease (STD), respiratory and gastrointestinal infections and HPV diagnostic products. Also, Seegene is in the final phase of direct sales to Brazil as the company received its international medical device single audit program (MDSAP) certification for the facility.
With Seegene’s multiplex technologies that enable simultaneous multiple detection and identification of various types of pathogens in a single test, Seegene do Brasil Diagnosticos Ltda aims to develop new diagnostic products customized in Brazil for tropical viruses such as Zika and dengue fever.
A spokesperson from Seegene said, “We plan to use the Brazilian subsidiary as a bridgehead for expanding our market presence to Latin America markets through local R&D and production as well as sales. We believe we can lead the market with our high multiplex products, adopting Seegene’s PCR technologies.” He also added, “Brazil is a major player in the Latin American market. It will play a crucial role in gaining market share in Latin America by securing large customer sites in Brazil.”
Seegene is expanding its presence in global molecular diagnostics market by operating six subsidiaries in the United States, the Middle East, Canada, Italy, Germany, in addition to Brazil.
Seegene Inc. (096530. KQ) is the world's leading developer of multiplex molecular technologies and multiplex clinical molecular diagnostics (M-MoDx). Seegene's core enabling technologies - DPO™, TOCE™, and MuDT™ - are the foundation for M-MoDx tests that can simultaneously detect multiple targets with high sensitivity, specificity and reproducibility. Seegene's products detect multi-pathogens with great reliability and throughput, ultimately providing the most economical basis for saving time, labor and cost. Seegene's mission is to maintain leadership in molecular diagnostics for infectious diseases, genetics, pharmacogenetics, and oncology using innovative proprietary technologies. For more information, please visit www.seegene.com
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