NEW YORK – Singapore-based pharmaceutical company Avatamed has partnered with South Korean biotech Macrogen to commercialize a precision oncology service offering that combines Avatamed's drug screening technology and Macrogen's genomic analysis expertise.
Avatamed's platform identifies cancer drugs patients are likely to respond to by screening the treatments first on their cancer cells, after taking into account the genomic features of those cells. Macrogen evaluates patients' tumor biopsy samples for genomic markers that may be similarly informative for therapy selection.
The joint cancer precision medicine service business will incorporate these capabilities and aim to help oncologists choose the right treatment for their patients based on genomic analysis. The companies expect to launch the service within this year in Southeast Asia and Europe.
"Knowing the genetic profiles of the cancer is crucial in determining the treatment options for the patient," Avatamed CEO Hong Boon Toh said in a statement. "With this collaboration, we will be able to provide a differentiated service that will be valuable to oncologists and patients in selecting cancer treatment options."
In August, Avatamed raised $1 million in seed funding that it used to begin providing drug screening services in Singapore and to expand its presence in Southeast Asia. The company's drug screening platform was developed in partnership with Samsung Medical Center, Singapore's Agency for Science, Technology, and Research (A*STAR), National Cancer Centre Singapore, and the National University of Singapore.