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SHANGHAI, China, Oct. 22, 2021 (GLOBE NEWSWIRE) -- Genetron Holdings Limited (“Genetron Health” or the “Company”, NASDAQ: GTH), a leading precision oncology platform company in China that specializes in molecular profiling tests, early cancer screening products and companion diagnostics development, today announced that it has entered into an exclusive agreement with Jiangsu Fosun Pharmaceutical Sales Co., Ltd (“Jiangsu Fosun Pharma”), a subsidiary of Shanghai Fosun Pharmaceutical (Group) Co., Ltd. (“Fosun Pharma”, Stock code: 600196.SH, 02196.HK), to commercialize Seq-MRD®, a molecular diagnostic assay for the detection of minimal residual disease (MRD) in patients suffering from select hematologic cancers. The partnership marks the launch of Genetron Health’s first product for hematologic cancer and MRD detection in the China market.
Under the agreement, Genetron Health and Jiangsu Fosun Pharma will work exclusively together to co-market and co-promote Seq-MRD® in hematologic-focused hospitals and clinics across designated territories in China. Both parties intend to serve patients afflicted by lymphoid malignancies, including acute lymphoblastic leukemia (ALL), multiple myeloma (MM), and chronic lymphoid leukemia (CLL).
In China, Jiangsu Fosun Pharma employs a robust sales force of roughly 1,500 representatives to promote and sell innovative drugs that target hematologic and lymphoid malignancies, solid tumors, and others. In order to promote Seq-MRD®’s clinical applications, Jiangsu Fosun Pharma will bring a sizeable, experienced, hematologic cancer focused sales force and valuable relationships with clinics, hospitals and distributors to this collaboration. Genetron Health will provide technical and commercial support to the partnership; this will include promoting scientific studies, marketing, and conducting product-related training.
The Seq-MRD® assay has been optimized with Genetron’s One-step Seq technology, which enables the DNA library construction process for gene sequencing to finish with a single PCR reaction and minimizes the risks of contamination and false positive results. This simple operational feature, together with Genetron’s fully automated bioinformatics solutions, enables Seq-MRD® to achieve high throughput and accuracy, good uniformity, high cost-efficiency, and fast turnaround times, when compared with traditional detection methods. To date, Seq-MRD® has been tested with thousands of samples of ALL, MM, and CLL in China.
“We are glad to partner with a company as innovative as Genetron Health is. Seq-MRD® offers significant advantages over conventional detection methods and has significant market potential in China. Our partnership’s goal is to increase Seq-MRD®’s market penetration and turn it into a standardized NGS-based MRD test,” said Wu Yifang, Chairman and CEO of Fosun Pharma. “We believe that our capabilities and network can maximize the product’s commercialization potential. More importantly, we are excited about the prospects of better MRD testing, and the significant clinical value that it could offer to cancer survivors.”
“We are thrilled to enter into this exclusive strategic partnership with Fosun Pharma, a leading global pharmaceutical company, to market our innovative Seq-MRD® assay product and further its clinical applications in China. This product has been optimized with our One-step Seq technology, and has received positive feedback from our biopharma partners during clinical trials,” said Sizhen Wang, Co-founder and CEO of Genetron Health. “MRD is an emerging field that is being closely watched by global scientific research institutes, clinicians, and diagnostic companies. In addition to hematologic cancer, Genetron is committed to developing MRD for solid tumor. We look forward to sharing more updates in the near future.”
Global Health Data Exchange, http://ghdx.healthdata.org/gbd-results-tool
About MRD and Seq-MRD®
MRD refers to the small number of cancer cells that can remain in a patient’s body after treatment and may eventually cause recurrence of the disease. Seq-MRD® was developed as a clinical diagnostic tool to assess treatment effectiveness, provide ultra-sensitive monitoring and guide therapy maintenance intensity in hematologic cancer patients.
Seq-MRD® has been optimized with Genetron’s One-step Seq technology, which allows the library construction process to complete in a single PCR reaction and minimizes the risk of contamination and false positive results. This simple operational feature, together with Genetron’s fully automated bioinformatics solutions, enable Seq-MRD® to achieve high throughput, uniformity, accuracy, cost-efficiency and fast turnaround time. To date, Seq-MRD® has been tested with thousands of samples in ALL, MM, and CLL in China. Recently, Seq-MRD® has also signed on a leading pharmaceutical company for use in their clinical trial.
The potential market for MRD in hematologic cancers is very big in China. According to Global Health Data Exchange, in 2017, it was estimated that there were approximately 135,000 newly diagnosed patients with T or B-cell lymphoid malignancies. In terms of prevalence, the total number of patients in these cancers were approximately two to four times of the newly diagnosed numbers1.
About Genetron Holdings Limited
Genetron Holdings Limited (“Genetron Health” or the “Company”) (Nasdaq: GTH) is a leading precision oncology platform company in China that specializes in cancer molecular profiling and harnesses advanced technologies in molecular biology and data science to transform cancer treatment. The Company has developed a comprehensive oncology portfolio that covers the entire spectrum of cancer management, addressing needs and challenges from early screening, diagnosis and treatment recommendations, as well as continuous disease monitoring and care. Genetron Health also partners with global biopharmaceutical companies and offers customized services and products. For more information, please visit ir.genetronhealth.com.
Genetron Safe Harbor Statement
This press release contains forward-looking statements. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. Statements that are not historical facts, including statements about the Company’s beliefs and expectations and prospectus of and plans for developing and commercializing Seq-MRD® in China, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties, and a number of factors could cause actual results to differ materially from those contained in any forward-looking statement. In some cases, forward-looking statements can be identified by words or phrases such as “may”, “will,” “expect,” “anticipate,” “target,” “aim,” “estimate,” “intend,” “plan,” “believe,” “potential,” “continue,” “is/are likely to” or other similar expressions. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the SEC. All information provided in this press release is as of the date of this press release, and the Company does not undertake any duty to update such information, except as required under applicable law.
About Fosun Pharma
Founded in 1994, Shanghai Fosun Pharmaceutical (Group) Co., Ltd. (“Fosun Pharma”; stock code: 600196.SH, 02196.HK) is a leading innovation-driven international healthcare group in China. Fosun Pharma strategically operates businesses in the pharmaceutical and health industry, including pharmaceutical manufacturing, medical devices and medical diagnosis, and healthcare services. Through equity participation in Sinopharm Co., Ltd., Fosun Pharma’s business extends to pharmaceutical distribution and retail.
Fosun Pharma takes pharmaceutical manufacturing as its core business and sticks to innovative research and development. Through in-house R&D, co-development, in-licensing and incubation, Fosun Pharma had established platforms for small molecule innovative drugs, antibody drugs and cell therapy, focusing on major therapeutic areas, including oncology, immunology, “4 hypers” (hypertension, hyperlipidemia, hyperglycemia and hyperuricemia) and their complications, as well as central nervous system. In the meantime, Fosun Pharma keeps close track of cutting-edge technologies, such as targeted protein degradation, RNA, oncolytic virus and gene therapy to enhance its innovation ability.
Looking forward, under guidance of 4IN strategy (Innovation, Internationalization, Integration and Intelligentization), Fosun Pharma practices innovation and transformation, integrated operation and steady development, as well as the concept of sustainable development. Fosun Pharma is committed to becoming the first-class enterprise in the global mainstream healthcare industry.
For more information, please visit: www.fosunpharma.com
Fosun Pharma Forward-looking statements:
This press release contains forward-looking statements. All statements other than statements of historical fact contained in this press release, including, without limitation, the discussions of the Company’s business strategies and expectations concerning future operations, margins, profitability, liquidity and capital resources, the future development of the Company’s industry and the future development of the general economy of the Company’s key markets and any statements preceded by, followed by or that include words and expressions such as “expect”, “seek”, “believe”, “plan”, “intend”, “estimate”, “project”, “anticipate”, “may”, “will”, “would” and “could” or similar words or statements, as they relate to the Company or its management, are intended to identify forward-looking statements. These statements are subject to certain known and unknown risks, uncertainties and assumptions, which may cause the Company’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by these forward-looking statements. Accordingly, you should not place undue reliance on any forward-looking information. Subject to the requirements of applicable laws, rules and regulations, the Company does not have any and undertakes no obligation to update or otherwise revise the forward-looking statements in this press release, whether as a result of new information, future events or developments or otherwise. In this press release, statements of or references to the Company’s intentions are made as of the date of this press release. Any such intentions may change in light of future developments. All forward-looking statements contained in this press release are qualified by reference to the cautionary statements set out above.
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