With scientists' in-depth research on the relationship between disease and genes, more and more biotech companies are realizing that genetic testing will become a huge market. In the United States, Internet giants, including Google, have already entered the field. And China, the emerging market with 1.3 billion people, has become a must for many bioinformatics companies. Recently, Veritas Genetics of Boston announced that it will establish a research and development center in Hangzhou, China, to develop next-generation sequencing technologies for the Asian patient population.
In fact, Veritas has long since begun to make arrangements for entering the Asian market. In May of this year, the company received a $10 million investment from Lilly Asia Investment Corporation. The company's current myBRCA detection technology has been CE certified in Europe and can be used to detect BRCA genes associated with breast and ovarian cancer. In addition, this test method has also landed in the US market in May this year.
Veritas said in a statement that the company hopes to use its unique technology to provide genetic testing services for Asians. After the company set up a research and development center in China, the first thing to do is to study the genes related to α-thalassemia, which has a higher incidence in Asian populations.
Veritas is not the only sequencing company with a ambition to seize the Chinese market. Earlier this month, another sequencing company, Agena Bioscience, announced that it has established a branch office in Shanghai to expand its business in China. In fact, China's pharmaceutical related departments have also realized the important role of gene sequencing services in future drug development. Previously, the State Council had stated that it would promote the advancement of China's gene sequencing technology and asked relevant departments to escort the development of this field. This background will undoubtedly also inject a shot in the heart of the genetic sequencing industry.
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