Seegene to advance business in Latin America in the New Year

SEOUL,South Korea,Jan. 21,2021 -- South Korea's leading molecular diagnostics firm Seegene Inc. (KQ096530) said Wednesday that it is expanding its business in Latin America in the new year with a strong focus on its multiplex assay product.

Seegene said it received an approval from Brazil's ANVISA,the National Health Surveillance Agency,in January for the use of its Allplex™SARS-CoV-2/FluA/FluB/RSV Assay,a syndromic test that can detect multiple target genes including COVID-19,influenza and common cold.

Allplex™ SARS-CoV-2/FluA/FluB/RSV Assay is a real-time RT PCR assay that can simultaneously screen and differentiate 8 targets,including Flu A,Flu B,RSV A/B and three target genes of COVID-19 (S gene,RdRP gene and N gene) along with two internal control targets in a single tube of reagent.

The assay is known to accurately detect COVID-19 viruses,even with mutated strains,as it targets multiple coronavirus genes.

Accurately distinguishing COVID-19 patients from those with seasonal flu virus has become extremely important,especially at a time when the coronavirus gained extra strength,coupled with a more contagious mutant COVID-19 strain.

An official from Seegene said the multiplex assay will help the Southern Cone better prepare for the influenza season,which in Latin America usually begins in the second quarter.

Seegene believes the official introduction of the COVID-19,influenza,common cold combo assay product in Latin America will definitely help drive up the sales revenue in that region.

The Korean firm saw its sales revenue in the region pop up by more than 40-fold in just a year from KRW 4 billion in 2019 to KRW 161 billion in 2020,largely attributed by the growth in demand of its COVID-19 diagnostic tests.

Also Seegene's Allplex™ SARS-CoV-2/FluA/FluB/RSV Assay won the fiercely competitive bidding process in Peru this year,enabling some 24 regions to proceed with the coronavirus / flu coinfection research project.

Making inroads into the country,Seegene's multiplex assay will be used for epidemiological investigation in the first quarter this year.

An official from Seegene said the COVID-19 pandemic has laid the groundworks for molecular diagnostic testing in the region and that the company will continue to work with countries in Latin America to curb the spread of coronavirus.