SML Genetree and Toolgen have signed an agreement to develop next-generation cancer diagnostic kits
Toolgen announced on December 12th that they have signed a business agreement with SML Genetree, a molecular diagnostics company, to jointly develop a next-generation cancer diagnostic kit using CRISPR technology.
The global in vitro cancer diagnostic market is expected to grow from $13 billion in 2020 to $18.6 billion in 2023, at an average annual rate of 9%.
Through this agreement, Toolgen will provide CRISPR-Cas9 technology that can diagnose cancer-related mutations. SML Genetree will conduct research on development and commercialization of diagnostic methods for cancer diagnostic kits using CRISPR technology. Both companies plan to establish a strategy for rapid and successful commercialization of the results of the joint research.
Toolgen holds the original patent for gene editing in all fields using CRISPR genetic scissors. They have developed a technology that can improve the sensitivity and accuracy of detecting oncogene mutations by integrating CRISPR-Cas9 technology and existing molecular diagnostics.
SML Genetree is a diagnostic kit research & development and manufacturing company that utilizes various molecular diagnostic techniques, including next-generation sequencing (NGS) and gene amplification (PCR). After the development and approval by MFDS of the world's first human papillomavirus (HPV) NGS kit in January 2019, SML Genetree’s NGS panels such as HLA (human leukocyte antigens) and MDR TB (multi drug-resistant tuberculosis) were commercialized in South Korea following MFDS (Ministry of Food and Drug Safety of South Korea) approval.
Ahn Ji-hoon, CEO of SML Genetree, says, "The development of molecular diagnostic technology using CRISPR-Cas9 technology will provide a new paradigm for the diagnostic market in the future. Through this agreement, both companies will be able to maintain their technological competitive edge based on their excellent source technology.
Youngho Kim, CEO of Toolgen, says, "Toolgen has completed development of this basic technology that will open a new era of cancer diagnosis. When SML Genetree's diagnostic kit development and experience in obtaining regulatory approval are added, successful development can be applied to these fields.