Genetic Analysis AS and Thalys Medical Technology Group enter Microbiome Laboratory Developed Test (LDT) agreement for the Chinese market
OSLO, NORWAY/SHANGHAI, CHINA – 13. January 2022: Microbiome DX company Genetic Analysis AS (“GA”) and Thalys Medical Technology Group Corporation (“Thalys”) announces today that the parties have entered a Laboratory Developed Test (LDT) agreement to evaluate and develop innovative diagnostic solutions for the rapidly growing human microbiota market in China. Thalys will use its Shanghai-based Medical Lab group to further develop and distribute tests based on Genetic Analysis’s GA-map® technology.
Over the recent years, the Chinese human microbiome market has been witnessing considerable growth on the back of rising incidences of diabetes, a growing geriatric population, and the continuous research and development being conducted by pharmaceutical manufacturers and academia. Latest forecasts* suggests the global human microbiome market to grow at a rate of 22.5% over the period 2022 to 2029 reaching USD 965.59 million by 2029. Along with the US, China is predicted to be one of the main contributors accelerating both in terms of evidence-based research and launched pharma products. In parallel, there is growing demand for clinically validated microbiome tests. The overall prevalence of IBS (Irritable Bowel Syndrome) in China ranges from 1.4% to 11.5%, however, China Expert Consensus of IBS (2020) pointed out that the prevalence of IBS may be highly underestimated. For the severe intestinal disease IBD (Inflammatory Bowel Disease), the total number of cases in China is estimated to reach 1.5 million by 2025.
In the first stage of the collaboration, Thalys Group will use its newly built Shanghai-based Independent Clinical Lab (ICL), Thalys MedLab to further develop and distribute tests based on Genetic Analysis’ GA-map® Technology in China. In 2021, Genetic Analysis launched the updated version of GA-map® Dysbiosis Test – the first CE-marked IVD test on the market providing microbiota profiles and dysbiosis status for IBS and IBD patients. The GA-map® Technology platform itself is based on an innovative Pre-Determined Targets approach (PDT).
President and Board Member of Thalys Group, Zheng Wang (James) comments:
“We are thrilled to collaborate with Genetic Analysis to explore and build molecular gut microbiome diagnostic testing service opportunities in China by leveraging the LDT model and the capabilities established at Thalys MedLab in Shanghai. Thalys Group will be the first company in China to launch this new PDT Technology through its ICL subsidiary Thalys MedLab located at Bao Shan District of Shanghai. The clinical microbiome market in China is a new and untouched segment within the molecular diagnostic market expected to grow significantly. The fact that GA is also partnered up with global players in the Dx industry like the Luminex Corporation (a DiaSorin Company headquartered in Italy), creates a solid platform for our collaboration with Genetic Analysis. Overall, this collaboration supports the global strategy to develop our innovation portfolio in the diagnostics and biotech segment, which both offers solid commercial opportunities and huge application potential in disease research, diagnostics and therapeutics”.
CEO Ronny Hermansen comments:
“We are delighted to be partnering with Thalys. They have a global footprint in medical research and diagnostics, together with the supply chain expertise and the customer distribution channels essential to radically accelerate our growth in the important and fast-growing Chinese market. A key objective for GA is to prepare for geographical expansion towards major markets and the collaboration agreement with Thalys Medical Group is well in line with GA’s objectives communicated in the IPO and so this represents a major milestone in the company’s development”.
*Databridge Market Research, Human Microbiome Market report, 2022
This disclosure contains information that Genetic Analysis AS is obliged to make public pursuant to the EU Market Abuse Regulation (EU nr 596/2014). The information was submitted for publication, through the agency of the contact person on 13.01.2022 at 09:30 CET.
For more information on Genetic Analysis, please contact:
Ronny Hermansen, CEO
For more information on Thalys, please contact:
Zheng Wang (James), President
About Genetic Analysis
Genetic Analysis AS (GA) is a science-based diagnostic company and pioneer in the human microbiome field with more than 10 years of expertise in research and product development. The unique GA-map® platform is based on a pre-targeted multiplex approach specialized for simultaneous analysis of a large number of bacteria in one reaction. The test results are generated by utilizing the clinically validated cutting edge GA-map® software algorithm. This enables immediate results without the need for further bioinformatics work. GA’s vision is to become the leading company for standardized gut microbiota testing worldwide, and GA is committed to help unlocking and restoring the human microbiome through its state-of-the-art technology. GA employs 23 highly qualified employees with relevant scientific backgrounds and with competence in bioinformatics, molecular biology, and bioengineering.
More info at Genetic Analysis website: www.genetic-analysis.com
About Thalys Medical Technology Group Corporation
Thalys Medical Technology Group Corporation (so called Thalys Group) is an enterprise with long history and solid experiences in the integrated operation and services of hospital IVD laboratories. Established in 1998 at Tianjin city and became a public company (Stock Code: 603716.SH) listed in the main stock board at Shanghai Stock Exchange (SSE) since 2016. Thalys Group aspires to be the most innovative and trusted partner of China healthcare system by building upon our expertise, scale and intelligence in distribution, solutions and services. Thalys Group focus on what matters most to lives, medical practitioners and partners. Its nationwide IVD consolidation in distribution & service network covers more than 30 provinces & 2,000 cities, supplying to more than 1,000 hospitals and 300 hospital IVD labs, and partnering with 3,990 suppliers and manufacturers in China. Thalys Group headquartered both in Wuhan and Shanghai, with more than 50 sales & service subsidiaries and 1,500 FTEs by the end of 2020. Thalys Group also commits to innovate on Life Science & Diagnostic technology by invested into several pioneering and innovative start-ups in single cell analysis and mRNA transcriptomic diagnostics.
More info at Thalys Group Office website: www.thalys.net.cn