Luye Pharma Forays into the Field of Precision Medicine through Acquisition of Singapore DNA Sequencing Company

2015-10-17 06:44

Luye Group Ltd. , the parent company of Luye Pharma Group Ltd. , a leading innovative pharmaceutical company with strong R&D capability and global vision in China's market, announced that the Group has acquired Vela Diagnostics, a DNA sequencing company in Singapore, marking the first move of Luye to set foot in DNA sequencing business and formally enter the field of precision medicine. It is expected that the acquisition will create synergy with Luye's businesses.

Headquartered in Singapore, the Group is an international corporation specializing in investment in health care field and medical industry development; it has three business units, namely Luye Pharma, Luye Healthcare and Luye Investment. The Group expects that Vela's DNA sequencing technology and the Group's existing businesses will create synergy to form a comprehensive industrial service ranging from diagnosis to treatment.

Established in 2011 and headquartered in Singapore, Vela Diagnostics is a worldwide supplier of integrated molecular diagnostic solutions. Vela Diagnostics is the pioneer in offering the automatic platform of both Real-Time PCR and Next-Generation Sequencing, and comprehensive solutions integrating equipment, reagent and data processing to clients. Vela Diagnostics boasts a global network across many countries and regions, including America, Europe and Australia. In molecular solutions field based on PCR and NGS, Vela Diagnostics has passed 27 CE-IVD (EU) tests and 19 TGA (Australia) tests, enjoying the leading position in the industry.

DNA sequencing is adopted to analyze the sequence of gene, forecast the probability of diseases, identify genetic disorder and provide foundation for prevention and treatment through blood or saliva. Precision medicine is based on the results of DNA sequencing to deliver precise therapy and make accurate categorization of the different status and process of the diseases, thereby giving personalized precision medicine to patients and improving the effect of disease treatment and prevention.

Precision medicine has great market potential. According to BCC Research, the total market value of global precision medicine market has reached US$ 4.5 billion in 2013 and is expected to reach US$ 11.7 billion in 2018, representing a CARG of 20%. China has also strengthened support for precision medicine. On March 11, 2015, the Ministry of Science and Technology held the first Precision Medicine Strategic Expert Meeting and decided to input RMB 60 billion into the field of precision medicine by 2030. In January 2015, the Chinese government announced pilot units for antenatal screening and next-generation sequencing technology. In April 2015, the Chinese government announced pilot units for tumor screening and next-generation sequencing technology. These moves showcase the government's solid determination to promote the development of precision medicine.

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