The Ministry of Health and Welfare announced that as of May 1st, cancer NGS (Next-Generation Sequencing) is covered by the National Health Insurance. Legislation for regenerative medicine has also accelerated. Companies such as Bionet, Genetics Generation Advancement, Genomics, and KIM Forest in the field of stem cell storage and testing are expanding to seize new business opportunities. Among them, Bionet will focus on breast cancer, ovarian cancer, and hematology oncology, targeting the 67 "regional-level or higher hospitals" or "cancer treatment quality certified hospitals" approved by the Ministry of Health and Welfare, aiming to expand its presence. Encouraged by the news, stock prices have surged against the trend, with Genetics Generation Advancement reaching its daily limit increase.
Bionet's adipose stem cell program accounts for 50% of all projects in Taiwan, and the exosome market is entering the fields of medical aesthetics, dermatology, and hair institutions. Combined with Genetics Generation Advancement' efforts in precision health and next-generation sequencing (NGS), it enhances its niche capabilities.
Bionet stated that the company has laboratories certified by the Ministry of Health and Welfare for Laboratory Developed Tests (LDTs) and offers cancer testing for different products such as NGS breast cancer and ovarian cancer BRCA genes. Although liquid biopsy is not currently covered by health insurance, using liquid biopsy to assist in postoperative cancer tracking fills the gap in physical tumor testing and remains Bionet's focus.
Genomics has submitted five LDTs applications this year, including cancer screening, diagnosis, treatment, prognosis, metabolic genetic testing, and rare disease genetic testing, aiming to seize the demand for NGS in LDTs laboratories and high-end testing opportunities after its inclusion in the health insurance. It has also signed an exclusive agency agreement with Thermo Fisher Scientific to strengthen its product portfolio.
KIM Forest collaborates with academic research institutions on cancer testing, metabolic profiling, prediabetes metabolic profiling, COVID-19 metabolic profiling, and testing for healthy and sub-healthy individuals. Conducting NGS on specific gene sequences from blood samples, its LDTs-certified precision medical molecular testing laboratory has signed contracts with various cancer testing centers, major medical institutions, and health screening centers to expand its market reach.
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