Genetron Health Provides Update on HCCscreen for Liver Cancer Early Screening in China
Genetron Holdings Limited (“Genetron Health” or the “Company”, Nasdaq: GTH), a leading precision oncology platform company in China that specializes in offering molecular profiling tests, early cancer screening products and companion diagnostics development, today provided an update for HCCscreenTM, its blood-based early screening test for hepatocellular carcinoma (“HCC”), in China.
Led by the Wuxi municipal government (“Wuxi”) and administered by the National Cancer Center (NCC) in China, the “Liver Cancer Early Screening Comprehensive Prevention and Control Project” is a public health initiative (the “Project”). The goal of the Project is to increase the awareness of liver cancer early screening, and to become a pilot city model in China. For the Project, Wuxi has selected HCCscreenTM for local residents who are high-risk individuals for HCC, and is committed to administering 150,000 tests over a period of three years. Wuxi had entered into a small-scale collaboration agreement with Genetron Health in 2019, and the Project represents an expanded collaboration between the parties. Wuxi is a city in the southern part of Jiangsu Province in eastern China with a population of over six million people, and has emerged as a biopharma innovation hub in recent years.
Separately, Genetron Health has formed a new operating center through a joint venture agreement with Wuxi, in which the parties will closely collaborate on advancing the liver cancer early screening market in China, through the adoption of HCCscreenTM. Under this joint venture agreement, both parties will contribute capital, and Genetron Health will own 90% of the joint venture. In addition to the commitment of using HCCscreenTM for its residents, Wuxi will also provide Genetron Health with other supportive measures including rental, R&D subsidies and tax benefits.
“We are thrilled about this strategic partnership with Wuxi. It represents a major milestone for HCCscreenTM as it will be broadly used in a real-world setting, reflecting its clinical value that both the NCC and Wuxi recognized. Wuxi’s investment and other supportive measures also highlight its commitment to advancing the liver cancer early screening in China,” commented Sizhen Wang, Genetron Health’s co-founder and CEO. “This partnership provides Genetron Health with near term revenue opportunities, as well as a cost-effective structure to build another world-class lab, manufacturing facility and an operating center for future developments. Beyond the financial benefits, the strategic value from this partnership is tremendous. It enables large-scale, real-world adoption of HCCscreenTM, representing an important step for our early screening product development, as well as potentially serving as a pilot model as we navigate the broader commercialization and reimbursement roadmaps in the future. Overall, we expect this initiative to ultimately help drive faster adoption of early cancer detection products in China.”