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    A096530   KR7096530001

SEEGENE, INC.

(A096530)
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End-of-day quote Korea Stock Exchange  -  05-26
43450.00 KRW   +0.58%
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Seegene to Launch New COVID-19 PCR Test with a Reduced Turnaround Time Optimized for Mass Testing

01/19/2022 | 07:01am EDT

SEOUL, South Korea, Jan. 19, 2022 /CNW/ -- Seegene Inc. (KQ 096530), South Korea's leading molecular diagnostics company, announced today the upcoming launch of the Allplex™ SARS-CoV-2 Fast PCR Assay, which can deliver PCR results in just 60 minutes. The company says that this assay is expected to reduce the total turnaround time to a third and expand testing capacity up to 3 times for hospitals and laboratories without additional instruments or compromise on accuracy.

Reduction of the turnaround time was attributable to two primary reasons: 1) the application of a novel enzyme developed by Seegene, which reduces PCR process time to half. 2) Seegene's innovative extraction-free method, which can let Allplex™ SARS-CoV-2 Fast PCR Assay be available without the extraction of the sample preparation in PCR-based tests. This drastically reduces the total turnaround time for each result. As such, the new assay lessens the amount of hands-on processing time required, allowing facilities to triple their testing capacity in the same hour.

Logo (PRNewsfoto/Seegene Inc.)

"This assay will be the optimized choice for laboratories and hospitals where they conduct large-scale testing as it helps them immediately expand the testing capacity with lessening the burden of healthcare workers," said Ho Yi, Chief Sales and Marketing Officer of Seegene. "For the time being, we plan to target large-scale testing markets in more than 60 countries all across the globe. The next step in our journey is to develop a new gold-standard molecular diagnostic assay that fully matches the speed of antigen tests with the same degree of accuracy as PCR test"

The Allplex™ SARS-CoV-2 Fast PCR Assay targets three COVID-19 genes––E, RdRP, and N–– to reliably detect COVID-19 regardless of the variants. According to clinical research conducted by 17 laboratories in seven countries, this assay showed the same or better accuracy for the COVID-19 detection as other diagnostic tests available in the market.

Visit www.seegene.com for more information.

About Seegene, Inc.

Seegene, Inc. was founded in Seoul, South Korea in 2000 and has subsidiaries in the U.S.A., Canada, Germany, Italy, Mexico, Brazil, Colombia, and the Middle East. Seegene, Inc. is an in-vitro diagnostics (IVD) company that has been turning innovative technologies into products through its pioneering R&D activities. Seegene owns its original patent technology including DPO™ (Dual Priming Oligonucleotide) for multiple target amplification; TOCE™ for multiple target detection in a single channel; MuDT™, the world's first real-time PCR technology that provides individual Ct values for multiple targets in a single channel for quantitative assays.; and mTOCE™ multiplex mutation detection technology. With these cutting-edge molecular diagnostic (MDx) technologies applied to diagnostic kits and other tools, Seegene has enhanced the sensitivity, specificity, and disease-coverage per a test of PCR (polymerase chain reaction) to unprecedented levels by providing accurate high-multiplex PCR products that target and detect genes of multiple pathogens simultaneously per each fluorescence channel. This feature dramatically saves testing time and cost. Seegene continues to set new standards in MDx through cutting-edge innovations.

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SOURCE Seegene Inc.

© Canada Newswire, source Canada Newswire English

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Financials
Sales 2022 1 133 B 0,90 B 0,90 B
Net income 2022 371 B 0,29 B 0,29 B
Net cash 2022 657 B 0,52 B 0,52 B
P/E ratio 2022 6,08x
Yield 2022 1,91%
Capitalization 2 228 B 1 764 M 1 764 M
EV / Sales 2022 1,39x
EV / Sales 2023 1,93x
Nbr of Employees 928
Free-Float 67,9%
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Number of Analysts 2
Last Close Price 43 200,00 KRW
Average target price 57 000,00 KRW
Spread / Average Target 31,9%
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Jong-Yoon Chun Chief Executive Officer & Director
Jin-Soo Choi President & General Manager-Management
Kyung-O Min President & Head-Research
Min-Chul Lee President, Head-Research & Development
Ho Lee President & Head-Sales
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