Seegene Establishes Joint Venture In Mexico

SEOUL, South Korea, May 2, 2016 /PRNewswire/ -- Seegene Inc. (096530.KQ), a leading developer of multiplex PCR technologies headquartered in South Korea, today announced that they have established a Joint Venture ("JV") with a renowned business partner in Mexico, Biodist Group. Partnering with Biodist Group, Seegene will accelerate the adoption of innovative molecular diagnostic (MDx) technologies in the Latin American market that includes Mexico and all the other Central and South American countries.

The new company, "Biodist-Seegene Diagnostics", was established with an ownership stake of 50% for each company. Seegene will license its proprietary MDx technologies and development know-hows to Biodist-Seegene Diagnostics. Biodist Group will provide a marketing and sales distribution network.

With Seegene's multiplex technologies that enable simultaneous detection and identification of multiple pathogens or targets in a single test, Biodist-Seegene Diagnostics will create new business opportunities to address the local market needs. Biodist-Seegene Diagnostics aims to develop, manufacture and commercialize localized products in Mexico and to expand its market presence to the fast-growing Latin American markets.

In addition to its current business in human IVD, Seegene is seeking to expand the applicability of its technologies into the non-human IVD markets such as those in the agricultural, marine products quarantine and food safety testing industries.

Molecular diagnostic methods, despite their accuracy compared to other conventional methods, have limitedly been used in the human IVD field due to their high costs. Seegene's technologies, by greatly reducing the test cost through simultaneous detection of multiple pathogens or targets in a single test, will open up new business opportunities in the non-human IVD market space.

About Seegene

Seegene is the world's leading developer of multiplex molecular technologies and multiplex clinical molecular diagnostics (M-MoDx). Seegene's core enabling technologies, ACP, DPO, READ, 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 simultaneously detect multiple pathogens or targets with great reliability and throughput, ultimately providing the most efficient 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 further information, visit www.seegene.com or contact:

Seegene Investor Relations

Yoon Chung
yjchung7@seegene.com
Tel: 82-2-2240-4082

Alex Baek
mwbaek@seegene.com
Tel: 82-2-2240-4025

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SOURCE Seegene