Luye Pharma Invests In Singapore's Vela Diagnostics

Luye Pharma announced it will invest in Singapore's Vela Diagnostics and collaborate with the company to develop diagnostics for China, which will involve drug development and companion diagnostics. Founded in 2011, Vela offers real-time PCR and next-generation sequencing on an integrated platform. The new investment will be crucial to Vela because the company went into Judicial Management, a form of bankruptcy, in March 2015. Further details were not disclosed.

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