April 18, 2024

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[THE INVESTOR] South Korean biotech firm PCL is in talks with Swiss pharmaceutical firm Novartis to develop companion diagnostics for its products. 

“During a meeting last month, Norvatis showed interested in a partnership with PCL to use our multiplex diagnostics platform for companion diagnostics that will be paired with Novartis’ investigational compounds in its development pipeline,” PCL Chief Executive Kim So-youn told The Investor on Feb. 3. 

Norvatis, the world’s second-largest pharma firm, mainly uses multiplex immunoassay platforms developed by a US-based biotechnology engineering company. However, it is now considering changing the platform to PCL’s 3-D sol-gel capturing system -- a chip-based multiplex called SG Cap technology.

“Using PCL’s cost-effective SG Cap technology platform will help Norvatis cut its spending on diagnostics testing significantly by one-tenth,” Kim said.

The company’s disease marker immobilization technology, which is 1,000 times more sensitive than existing technology with no cross-reactions or interference, helps to detect various diseases, from HIV and influenza to cancer.

Last year, the firm obtained Europe’s CE Marking for its Hi3-1 blood test kit using SG Cap technology, the first product in the world to be able to detect HIV and hepatitis C simultaneously. The product is being exported to France, Germany and Brazil.

The company, which reported 2.2 billion won ($1.94 million) in revenue and an operating loss of 600 million won in 2016, will be listed on South Korea’s tech-laden Kosdaq market this month.

By Park Han-na (hnpark@heraldcorp.com)