Related Suggestion
(DONGGUAN, China,
Oct 18, 2021) -- Fapon Biotech Inc. (The Company or "Fapon Biotech")
is pleased to announce its full acquisition of Sequlite Genomics
("Sequlite"), a USA enterprise that focuses on Next-Generation
Sequencing (“NGS”). The two parties have signed a share purchase agreement online,
with the Fapon Biotech team in Dongguan headquarter and Sequlite team in the
USA. After the agreement, with a previous investment of 40% share in Sequlite,
Fapon Biotech owns 100% Sequlite now. The Company takes over and manages
Sequlite in all aspects of product research and development and business
operation, further deepening its strategic presence in the global NGS business.
Sequlite specializes in
the R&D of high-throughput NGS instruments and reagents. It has
independently researched and developed core image processing algorithm (Base
Calling software), core reagent raw materials production (such as high-fidelity
DNA polymerase and high-purity nucleotide analogs), core optical imaging system
adjustment and assembly process. It is worth mentioned that the Sequlite
management team has deep genomics expertise from leading NGS companies.
Diligently worked in the
IVD industry for over 20 years, Fapon Biotech has accumulated solid experience
in product commercialization to serve its wide customer base. It has gained
trust from more than 1,000 global business partners and achieved a relatively
high market share in more than 40 countries. Fapon Biotech has always been a
technology innovation driven company, with over 470 technology patents and 42%
of the employees focused on R&D. About 28% of its sales revenue is invested
in R&D annually. Along with the acquisition of Sequlite, the Company's
R&D capability in the field of NGS will approach international top level
and it will take a step further to build an R&D platform with global
vision.
Meanwhile, the rising of
another Chinese NGS instrument developer and manufacturer will accelerate the
domestication of NGS platforms in China. In recent years, China's NGS market
has developed rapidly. However, overseas brands have long dominated the core
technologies and instruments. As a leading supplier of excellent IVD reagent
raw materials and customized solutions in China, Fapon Biotech has worked in
NGS business for several years, providing core raw materials for library prep kits
and partnered with Sequlite team since its inception. In December 2020,
Sequlite has completed the R&D phase and produced the functional prototype
of SeqQ 100, an affordable NGS system (instrument, flow cells, and reagents)
that provides flexible throughput and ease of use, which is highly desired in
the clinical markets. More importantly, SeqQ 100 uses improved NGS technologies
that are readily adoptable by customers worldwide, which allow them to keep
their existing workflows.
The launch of the
high-throughput NGS system has expanded Fapon Biotech's existing product
catalog and marked an essential step of the Company’s vision to lead the
establishment of open diagnostic ecosystem. Leveraging fully automatic CLIA (Short
for Chemiluminescent immunoassay)
analyzers, rapid MDx analyzers, and NGS systems, Fapon Biotech has fully
covered immunoassay, molecular diagnostics, and NGS markets with these open system
instrument platforms.
Millard Chan, the
Co-founder and CEO of Sequlite, commented: "As Fapon Biotech is growing by
leaps and bounds, I totally believe it has powerful strength in digging into
cutting-edge diagnostic technology and providing one-stop solutions. Fapon
Biotech has been a fantastic partner to Sequlite and we all look forward to a
bright future where more people and organizations around the world may benefit from
the power of NGS applied to healthcare.”
Mr. Zhiqiang He, the CEO of Fapon Biotech, echoed: "Both Fapon Biotech and Sequlite want to make better and more affordable NGS products. I hope that we can work together and remain true to our original aspiration to achieve this goal. NGS could be essential in the development of life science in the future and Fapon Biotech will continue to promote the development of early diagnosis and precision medicine in China and beyond, with our three different platforms of CLIA, MDx, and NGS."