Seegene Wins Tender for Diagnostic Reagents Worth 45 Million Euros in Italy

Seegene to supply diagnostic reagents to public hospitals in Tuscany for five years

Bidding scale increased by six-fold with non-COVID products accounting for 43% due to the clinical utility of molecular diagnostics

Positive impact on bidding in other regions and continuous growth of non-COVID products are expected

SEOUL, South Korea, Nov. 18, 2022 /PRNewswire/ -- Seegene Inc. (096530), South Korea's leading molecular diagnostics company, has won a €45 million (about KRW 62.7 billion) tender to supply diagnostic reagents with the regional government of Tuscany, Italy.

The company announced that its local subsidiary in Italy, Arrow Diagnostics S.r.l., was selected as a supplier in the bid for diagnostic reagents conducted every five years by the Tuscan government. The supply scale, which was 10 billion KRW in 2016, has also increased significantly by more than six-fold. This increase is due to the clinical utility of molecular diagnostics, which has been recognized in medical facilities, such as hospitals, during the pandemic.

With the contract, Seegene will not only supply COVID-19 test kits but also supply diagnostic reagents for the detection of human papillomavirus infections, sexually transmitted infections, antibiotic resistance determinants, and mycobacterium tuberculosis to 13 public hospitals in Tuscany from January 2023. According to the supply agreement in the contract, COVID-19 test and non-COVID products account for 57% and 43%, respectively.

Seegene explained that its successes in bidding for the contract are attributed to Seegene's multiplex PCR technology and the application of the diagnostic reagent to its automated PCR system. Also, it is believed that the company has contributed to Italy's overcoming of the pandemic by supplying COVID-19 tests for 7.15 million people to the COVID-19 Emergency Response Committee under the Italian Ministry of Defense in April 2021.

"I hope that the signing of this contract will have a positive impact on our chances of winning tenders in other regions in the future and serve as a driver for the continued sales growth of our non-COVID products" said Maccheroni Franco, CEO of Arrow Diagnostics S.r.l.

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