LabGenmoics to join US-led Cancer Moonshot Initiative
LabGenomics Joins US Cancer Moonshot
LabGenomics announced its involvement in the Cancer Moonshot Initiative endeavor, an effort driven by the Joe Biden administration. The primary goal of this project is to drastically diminish the mortality rate caused by cancer by exceeding an impressive 50 percent reduction within the upcoming quarter of a century.
LabGenomics emphasized that it is the sole Korean firm providing cancer diagnostic solutions in the United States, and has joined CancerX, a collaborative initiative spearheaded by the Digital Medicine Society and Moffitt Cancer Center.
The company is essentially spearheading the Cancer Moonshot Initiative.
LabGenomics has recently introduced the OTD-Lung companion diagnostic examination aimed at non-small cell lung cancer patients in Korea.
The company has a strategy to expand its range of cancer diagnostic options by launching two different cancer panel tests. One of these tests is the OTD-Liquid liquid biopsy, specifically designed for detecting stage 3 and 4 solid tumors.
LabGenomics expressed its urgency in assimilating these services into the American market by promptly integrating them through its subsidiary.
In addition, the organization has successfully finished the development of three cancer diagnostic panels based on Next-Generation Sequencing (NGS) technology. These panels are now ready to be introduced to QDx Pathology Services, a lab that the company acquired in July and which complies with the Clinical Laboratory Improvement Amendments (CLIA) regulations.
The company highlighted that the recently introduced cancer diagnostic panel analysis services will offer enhanced effectiveness, affordability, and profitability. Enhancements involve the examination of the BRCA1 and BRCA2 panel, which has achieved a retest rate of zero percent, as well as a solid tumor analysis offering that has reduced the time it takes to deliver results from three weeks to two.
LabGenomics CEO Lee Jong-hoon expressed his assurance in the competitiveness of CancerX's cancer diagnostic technology on a global scale upon joining forces. Consequently, LabGenomics plans to prioritize the advancement of diagnostic panels for several cancer types, including blood cancer diagnosis, within the upcoming year.
Additionally, Lee mentioned that the company intends to take part in CancerX initiatives proactively and aid in the fight against cancer by establishing different collaboration networks. This would involve partnering with global healthcare corporations through its subsidiary in the United States for joint research endeavors.
