Seegene to secure a bridgehead for leading MDx market in Latin America

SEOUL, Korea, May 5, 2020 – Seegene Inc. (096530.KQ), a leading developer of multiplex PCR technologies headquartered in South Korea, announced that it will export 10 million tests of its COVID-19 testing kits to Pan American Health Organization (PAHO) / World Health Organization (WHO) through Brazilian subsidiary, Seegene do Brasil Diagnosticos Ltda.

Seegene has supplied 5 million tests of Allplex™ 2019-nCOV assay to Brazil and will supply remaining tests in the following weeks. Also, Seegene will discuss a further increase of up to 100% of the testing volume.

The company said, “This unprecedentedly large export volume emphasizes an explosive increase in demand for Seegene’s COVID-19 product worldwide and demonstrates that our high volume testing system is gaining world recognition.”

Seegene’s AllplexTM 2019-nCOV Assay is eyeing a good response from the market as the capability of the assay that identifies 3 different target genes (E gene, RdRP gene and N gene) in a single-tube enables accurate and efficient diagnosis, and Seegene’s automated system is extremely useful during the coronavirus pandemic where large volume of tests are required.

Seegene has already exported 20 million tests of the COVID-19 assays to over 60 countries and is ramping up the production rapidly to meet an increased demand across the globe.

The export volume to the Brazilian market is expected to rise as Seegene is negotiating supply agreement with the state government and private laboratories in Brazil. In addition, the company is planning with PAHO for further contracts with other countries in Latin America.

As Seegene’s assay is already well-recognized in major European countries such as France, Germany, Italy and Spain, the company’s solution for COVID-19 diagnosis surely secures a bridgehead for expanding the market presence to Latin America. This contract indeed marks a significant beginning for Seegene to further occupy the molecular diagnostics market in all of the countries in Latin America. 

About Seegene
Seegene (KQ : 096530) is a global pioneer in symptom-based in vitro molecular diagnostics focusing on advancing science to develop multiplex molecular technologies and to manufacture multiplex in vitro diagnostic devices and reagents. Seegene's core enabling power is the passion for wide spreading of multiplex molecular diagnostics to improve the quality of life and health of people. Using its innovative proprietary technologies, Seegene has been making considerable contributions to giving the most economic and clinic-friendly molecular diagnostic solutions for infectious diseases, genetics, pharmacogenetics, and oncology. For more information, please visit www.seegene.com.