BioNexus Gene Lab Corp. Signs Strategic Outsourcing Agreement with VITARRAY Global Pte. Ltd.
BioNexus Gene Lab Corp. (Nasdaq: BGLC) has announced a strategic outsourcing agreement between its subsidiary, MRNA Scientific, and VITARRAY Global Pte. The partnership aims to provide mRNA dynamic gene detection services for the Southeast Asian market. Key aspects of the agreement include:
1. MRNA Scientific will leverage its Kuala Lumpur facilities for Vitarray's gene detection activities.
2. Vitarray has exclusive rights to bring Huaxia's advanced gene detection technology to international markets.
3. The collaboration will reduce MRNA Scientific's testing costs by over 25%, increasing profitability.
4. Both parties will conduct initial experimental tests before long-term collaboration.
5. The partnership aims to expand mRNA dynamic gene detection technology across various markets.
This agreement is expected to enhance early disease detection capabilities and broaden access to innovative healthcare technologies in Southeast Asia.
BioNexus Gene Lab Corp. (Nasdaq: BGLC) ha annunciato un accordo strategico di outsourcing tra la sua sussidiaria, MRNA Scientific, e VITARRAY Global Pte. Questa partnership mira a fornire servizi di rilevamento dinamico dei geni tramite mRNA per il mercato del sud-est asiatico. Gli aspetti principali dell'accordo includono:
1. MRNA Scientific utilizzerà le sue strutture di Kuala Lumpur per le attività di rilevamento dei geni di Vitarray.
2. Vitarray ha diritti esclusivi per portare la tecnologia avanzata di rilevamento dei geni di Huaxia sui mercati internazionali.
3. La collaborazione ridurrà i costi di test di MRNA Scientific di oltre il 25%, aumentando la redditività.
4. Entrambe le parti condurranno test sperimentali iniziali prima della collaborazione a lungo termine.
5. La partnership mira ad espandere la tecnologia di rilevamento dinamico dei geni tramite mRNA in vari mercati.
Si prevede che questo accordo migliori le capacità di rilevamento precoce delle malattie e ampli l'accesso a tecnologie sanitarie innovative nel sud-est asiatico.
BioNexus Gene Lab Corp. (Nasdaq: BGLC) anunció un acuerdo estratégico de subcontratación entre su subsidiaria, MRNA Scientific, y VITARRAY Global Pte. La asociación tiene como objetivo proporcionar servicios de detección genética dinámica mediante mRNA para el mercado del sudeste asiático. Los aspectos clave del acuerdo incluyen:
1. MRNA Scientific aprovechará sus instalaciones en Kuala Lumpur para las actividades de detección genética de Vitarray.
2. Vitarray tiene derechos exclusivos para llevar la avanzada tecnología de detección genética de Huaxia a los mercados internacionales.
3. La colaboración reducirá los costos de prueba de MRNA Scientific en más del 25%, aumentando así la rentabilidad.
4. Ambas partes llevarán a cabo pruebas experimentales iniciales antes de la colaboración a largo plazo.
5. La asociación tiene como objetivo expandir la tecnología de detección genética dinámica mediante mRNA en varios mercados.
Se espera que este acuerdo mejore las capacidades de detección temprana de enfermedades y amplíe el acceso a tecnologías de salud innovadoras en el sudeste asiático.
BioNexus Gene Lab Corp. (Nasdaq: BGLC)는 자회사인 MRNA Scientific과 VITARRAY Global Pte. 간의 전략적 아웃소싱 계약을 발표했습니다. 이 파트너십은 mRNA 동적 유전자 검출 서비스를 동남아시아 시장에 제공하는 것을 목표로 합니다. 이 계약의 주요 사항은 다음과 같습니다:
1. MRNA Scientific은 Vitarray의 유전자 검출 활동을 위해 쿠알라룸푸르의 시설을 활용합니다.
2. Vitarray는 Huaxia의 최신 유전자 검출 기술을 국제 시장에 가져올 독점권을 갖습니다.
3. 협력은 MRNA Scientific의 테스트 비용을 25% 이상 줄여 수익성을 증가시킬 것입니다.
4. 양 당사자는 장기 협력 전에 초기 실험 테스트를 실시합니다.
5. 파트너십은 다양한 시장에서 mRNA 동적 유전자 검출 기술을 확장하는 것을 목표로 합니다.
이 계약은 조기 질병 검출 능력을 향상시키고 동남아시아에서 혁신적인 의료 기술에 대한 접근을 확대할 것으로 기대됩니다.
BioNexus Gene Lab Corp. (Nasdaq: BGLC) a annoncé un accord stratégique d'externalisation entre sa filiale, MRNA Scientific, et VITARRAY Global Pte. Ce partenariat vise à fournir des services de détection dynamique des gènes par mRNA pour le marché de l'Asie du Sud-Est. Les principaux aspects de l'accord comprennent :
1. MRNA Scientific utilisera ses installations à Kuala Lumpur pour les activités de détection des gènes de Vitarray.
2. Vitarray a des droits exclusifs pour introduire la technologie avancée de détection des gènes de Huaxia sur les marchés internationaux.
3. La collaboration permettra de réduire les coûts d'essai de MRNA Scientific de plus de 25 %, augmentant ainsi la rentabilité.
4. Les deux parties réaliseront des tests expérimentaux initiaux avant la collaboration à long terme.
5. Le partenariat vise à étendre la technologie de détection dynamique des gènes par mRNA sur divers marchés.
On s'attend à ce que cet accord améliore les capacités de détection précoce des maladies et élargisse l'accès aux technologies de santé innovantes en Asie du Sud-Est.
BioNexus Gene Lab Corp. (Nasdaq: BGLC) hat eine strategische Outsourcing-Vereinbarung zwischen ihrer Tochtergesellschaft MRNA Scientific und VITARRAY Global Pte. angekündigt. Die Partnerschaft zielt darauf ab, dynamische mRNA-Genutzungsdienste für den süostasiatischen Markt bereitzustellen. Zu den Schlüsselaspekten der Vereinbarung gehören:
1. MRNA Scientific wird seine Einrichtungen in Kuala Lumpur für die Genutzungsaktivitäten von Vitarray nutzen.
2. Vitarray hat die exklusiven Rechte, die fortschrittliche Genutzungs technologie von Huaxia auf internationale Märkte zu bringen.
3. Die Zusammenarbeit wird die Testkosten von MRNA Scientific um mehr als 25% senken, was die Rentabilität erhöht.
4. Beide Parteien werden vor der langfristigen Zusammenarbeit erste experimentelle Tests durchführen.
5. Die Partnerschaft zielt darauf ab, die dynamische mRNA-Genutztechnologie in verschiedenen Märkten zu erweitern.
Von dieser Vereinbarung wird erwartet, dass sie die frühen Krankheitserkennungsfähigkeiten verbessert und den Zugang zu innovativen Gesundheitstechnologien in Südostasien erweitert.
- Strategic partnership to provide mRNA dynamic gene detection services in Southeast Asia
- Reduction of testing costs by over 25% for MRNA Scientific
- Potential for increased profit margins and market expansion
- Access to Huaxia's advanced gene detection technology through Vitarray
- Opportunity to broaden availability of early-stage disease detection services
- None.
Insights
This strategic outsourcing agreement is a positive development for BioNexus Gene Lab Corp. The deal with VITARRAY Global Pte. presents significant financial upsides:
- Cost reduction of
25% in testing, enhancing profitability - Potential for market expansion in Southeast Asia
- Improved profit margins for future testing projects
While specific revenue projections aren't provided, the cost savings and market expansion opportunities could translate to substantial growth. Investors should monitor future financial reports to gauge the impact on BGLC's bottom line. The partnership also reduces operational risks by leveraging shared resources and expertise.
This agreement marks a significant step in advancing mRNA dynamic gene detection technology in Southeast Asia. Key points to consider:
- Early disease detection capabilities, particularly for cancer and cardiovascular diseases
- Access to Huaxia's advanced gene detection technology
- Potential for improved patient outcomes through earlier interventions
The collaboration could accelerate research and development in molecular diagnostics. However, the success of this venture will depend on the accuracy and reliability of the tests, as well as regulatory approvals in different Southeast Asian countries. Investors should watch for clinical validation studies and regulatory milestones in the coming months.
The strategic partnership between MRNA Scientific and Vitarray presents a compelling market opportunity:
- Exclusive access to Huaxia's technology in Southeast Asia
- Potential to capture a significant share of the growing molecular diagnostics market
- Synergies between MRNA Scientific's testing capabilities and Vitarray's market access
However, success will depend on factors such as market acceptance, competitive landscape and regulatory environment in different Southeast Asian countries. Investors should monitor market penetration rates and any new partnerships or competitors entering this space. The agreement's impact on BioNexus Gene Lab Corp.'s market position could be substantial if executed effectively.
KUALA LUMPUR, Malaysia, Sept. 14, 2024 (GLOBE NEWSWIRE) -- BioNexus Gene Lab Corp. (Nasdaq: BGLC, the “Company”), an emerging biotechnology company focused on innovative healthcare solutions, is pleased to announce that its wholly owned subsidiary, MRNA Scientific Sdn. Bhd. (“MRNA Scientific”), has entered into a strategic outsourcing agreement with VITARRAY Global Pte. Ltd. (“Vitarray”), an exempted private company incorporated in Singapore. This agreement focuses on the provision of mRNA dynamic gene detection services for the Southeast Asian market.
Under this agreement, MRNA Scientific will leverage its advanced medical testing facilities located in Kuala Lumpur, Malaysia, to provide outsourcing services for Vitarray’s mRNA gene detection activities. This collaboration is aimed at enhancing the deployment of advanced molecular diagnostics throughout Southeast Asia, facilitating early disease detection and expanding access to innovative healthcare technologies.
Vitarray has been authorized by Huaxia Jingdu Renhe Medical Laboratory Co., Ltd. (“Huaxia”), a leading medical diagnostics company in China, to manage their overseas recruitment, promotion, and management of mRNA dynamic gene detection technology. This authorization provides Vitarray with the exclusive right to bring Huaxia’s advanced gene detection technology to international markets, including Southeast Asia.
Key Terms of the Agreement:
- Outsourcing of Testing Services:
Vitarray will provide the necessary samples and blood collection materials, while MRNA Scientific will supply reagents, laboratory staff, consumables, and testing facilities. - Initial Testing and Cooperation:
Both parties will conduct an initial batch of experimental tests to ensure alignment on quality and performance before proceeding with long-term collaboration. - Cost Reduction and Market Expansion:
Through this partnership, MRNA Scientific will significantly reduce its testing costs by more than25% , making its services more profitable. This cost efficiency opens up opportunities to expand the market for mRNA dynamic gene detection services, while increasing the profit margins for future testing projects. - Further Cooperation:
This agreement also lays the foundation for strengthened technical and market cooperation between the two companies in MRNA Scientific and Vitarray, with plans to expand the use of mRNA dynamic gene detection technology across various markets, including Southeast Asia. - Confidentiality and Compliance:
Both parties are committed to maintaining strict confidentiality regarding all technical, business, and medical expert information involved in the collaboration.
Expanding the Reach of mRNA Dynamic Gene Detection
The outsourcing agreement represents a significant milestone for both MRNA Scientific and Vitarray. This collaboration leverages MRNA Scientific’s advanced diagnostic technology and expert medical testing capabilities to help broaden the availability of early-stage disease detection services, particularly for critical health issues like cancer, cardiovascular diseases, and other chronic conditions. Furthermore, with reduced testing costs, MRNA Scientific is well-positioned to reach more markets and increase profitability while maintaining its high standards of service.
Sam Tan, CEO of BioNexus Gene Lab Corp., commented on the significance of the agreement:
"This partnership with Vitarray reflects our commitment to advancing healthcare innovation through strategic collaborations. By utilizing MRNA Scientific’s expertise and testing infrastructure, we are helping to bring the benefits of cutting-edge molecular diagnostics to the broader Asian market, enabling earlier and more accurate disease detection, all while improving our cost efficiency."
About MRNA Scientific Sdn. Bhd.
MRNA Scientific Sdn. Bhd., a wholly owned subsidiary of BioNexus Gene Lab Corp., specializes in molecular diagnostics, with a focus on cancer screening and personalized healthcare solutions. Through its advanced testing laboratories in Kuala Lumpur, MRNA Scientific offers a range of cutting-edge services designed to improve early disease detection and overall healthcare outcomes.
About BioNexus Gene Lab Corp
BioNexus Gene Lab Corp. (Nasdaq: BGLC) is an emerging biotechnology company focused on providing innovative solutions in healthcare. BGLC is committed to advancing precision medicine, early diagnostics, and cutting-edge therapies to improve patient care and outcomes.
For more information, please visit www.bionexusgenelab.com.
Forward-Looking Statements
Certain statements in this press release may be considered “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and are based on beliefs and assumptions and on information currently available to the Company. In some cases, you can identify forward-looking statements by the following words: “may,” “will,” “could,” “would,” “should,” “expect,” “intend,” “plan,” “anticipate,” “believe,” “estimate,” “predict,” “project,” “potential,” “continue,” “ongoing,” “target,” “seek” or the negative or plural of these words, or other similar expressions that are predictions or indicate future events or prospects, although not all forward-looking statements contain these words. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and the Company assumes no obligation and does not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.
Contact Information:
Investor Relations
BioNexus Gene Lab Corp
Email: ir@bionexusgenelab.com
FAQ
What is the strategic outsourcing agreement between BioNexus Gene Lab Corp. (BGLC) and VITARRAY Global Pte. ?
How will the agreement with VITARRAY affect BGLC's testing costs and profitability?
What are the key terms of the outsourcing agreement between BGLC and VITARRAY?
How does the BGLC-VITARRAY agreement aim to impact healthcare in Southeast Asia?
