BiOptic Inc. Chairman Shou-Guan Tsai stated yesterday that this year would be a transformative year for the group's operations, expanding into three major applications: scientific research, genetic testing, and clinical diagnostics. The group will leverage its resources to expand into point-of-care testing (POCT), liquid biopsy, as well as everyday life applications such as food safety, pet pathogens, and nucleic acid identification. This aims to establish a comprehensive health gene testing and preventive medicine group.
BiOptic's revenue in 2023 was 228 million yuan, a decrease of 1.35% compared to the previous year. Revenue for the first two months of this year reached 26 million yuan, a year-on-year increase of 34.35%, reaching a new high for the same period in history. The company's own brand Qsep series of biological fragment analyzers accounted for the application scope of revenue. Currently, BiOptic operates in three major areas: scientific research accounting for 47%, genetic testing for 26%, and clinical testing for 27%.
Shou-Guan Tsai shared that BiOptic has two major business focuses this year. First, actively promoting the fully automated analyzer Qsep Ultra to drive sales of the iCATCHER automatic nucleic acid extraction system on the front end. Second, expanding investment in the optimization and upgrade of reagent products to meet the diverse testing service needs of consumers. The company aims to target three major areas: liquid biopsy, precision medicine, and daily health.
Qsep Ultra is an integrated automated analyzer combining nucleic acid amplification (PCR) and capillary electrophoresis biological fragment analysis. After sampling, it can be directly used on the machine, with only two steps needed to output a test report automatically interpreted by the software. This meets the demand for companion diagnostics and on-site testing for POCT. Although the product has already been shipped in small quantities, the optimized new generation Qsep Ultra will be officially mass-produced this year.
Shou-Guan Tsai pointed out that BiOptic began its group development in 2023, acquiring "GenOpen," which focuses on nucleic acid extraction and entering the cancer genetic testing market. To provide a one-stop genetic testing solution, BiOptic established the downstream testing service company "ScienceGen" after its founding. Initially, the company's main business will focus on comprehensive health gene testing.
Shou-Guan Tsai explained that GenOpen has independently developed the iCATCHER automatic nucleic acid extraction system, which can extract extremely small amounts of ctDNA (circulating tumor DNA) from liquid samples. Coupled with the integration of BiOptic's downstream process, the new system Qsep Ultra with dual functions is launched, allowing the company to enter the cancer genetic testing market.
Shou-Guan Tsai emphasized that iCATCHER has extremely high efficiency in nucleic acid extraction from challenging samples such as urine and feces, which is one of its core technological advantages. It can set different conditions based on diverse sample types to extract the highest quality nucleic acid products, suitable for early cancer detection and regular monitoring applications.
Regarding overseas market expansion, Shou-Guan Tsai stated that in 2023, the company collaborated with Japan's Otsuka Group to promote its product Qsep Ultra biological fragment analyzer, seizing the precise health business opportunities in super-aged societies. Shipments officially began in March this year, and the company will expand its investment in reagent development for various target genes, such as on-site testing for infectious diseases, bedside point-of-care, and telemedicine. Product process development for each target gene has already begun.
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