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Panagene seeks to expand overseas with new cancer diagnostics technology

Collected: 2017.11.09

Distributed: 2017.11.10

Source: Go Direct

PANAMutyper EGFR mutation detection kit [Photo by Panagene]

Panagene Inc., a developer and manufacturer of molecular diagnostic products in South Korea, said on Wednesday that it will speed up efforts to advance into overseas markets by putting forward its liquid biopsy technology that spots cancer using only 4 to 5 milliliters of blood.

The advanced technology picks up cancer genes or faulty genes in the blood to diagnose cancer and its type. It is known for its convenient procedure at hospitals and clinical laboratories as compared to tissue biopsy that removes a sample piece of tissue by cutting through the skin.

Panagene said that it has officially launched the PANAMutyper EGFR mutation detection kit that applies liquid biopsy technology, which has been submitted for approval at the U.S. Food and Drug Administration (FDA). The comprehensive kit helps detect mutated genes from blood to identify lung cancer and provides customized treatment. It can identify even small amount of mutated genes in short running time, the company added.

Kim Sung-kee, chief executive and president of Panagene, said that indigenously developed PANAMutyper has been approved of its new medical technology together with a liquid biopsy product released by Hoffmann-La Roche, allowing it to vie with the multinational healthcare company.

Shares of Panagene on Wednesday closed 2.24 percent or 130 won ($0.1) higher at 5,930 won on the secondary Kosdaq.

By Kim Hye-soon and Lee Eun-joo

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