Received coveted FDA Breakthrough Device designation for its NGS test for early detection of hepatocellular carcinoma
Rockville, Md. — Citing proximity to leading U.S. regulators and researchers, fast-growing precision oncology company, Genetron Health Inc. (Genetron), is moving its U.S. headquarters to Montgomery County, Maryland from North Carolina’s Research Triangle. The China-based company is relocating to a 6,000 SF hybrid space for Research & Development and a state-of-the-art lab in Gaithersburg, Maryland for its planned rapid growth.
Genetron’s blood-based next generation sequencing (NGS) test has been granted Breakthrough Device designation by the U.S. Food and Drug Administration (FDA), designed for early detection of hepatocellular carcinoma due to chronic HBV infection and/or liver cirrhosis. Genetron believes they are one of the first China-based, cancer molecular diagnostic companies to receive this critical FDA designation.
The company is planning for exponential growth following clinical trials, with the goal of hiring 30 to 50 people within two years and continued expansion thereafter. Genetron will be seeking workers at the crossroads of health and biotech, including professionals with expertise in bioinformatics. Learn
more here about the FDA designation and the success of their study to date.
“Montgomery County is historically the first place for human genomics,” said Sizhen Wang, Genetron’s co-founder and CEO. “The county offers great advantages to us, including proximity to the U.S. evaluating authority, the FDA. We also have a perfect opportunity here for collegial interconnection with hospitals, pharma and tech companies, as well as a great talent pool to draw from as we grow.”
The company’s Chief Scientific Officer, Hai Yan, and Chief Technology Officer, Yuchen Jiao, have a Maryland connection as well, with both having been Post-Doctoral Fellows at Johns Hopkins University.
“On behalf of the State of Maryland, we are thrilled to serve as the new U.S. headquarters home for Genetron Health Inc.,” said Maryland Commerce Secretary Kelly M. Schulz. “With a bustling biohealth and life sciences sector, Genetron will fit perfectly in Montgomery County, surrounded by some of the state’s most innovative medical companies and the top researchers from across the nation.”
Montgomery County has approved Genetron for a MOVE grant of $46,848 to assist with their relocation, and the company is working to obtain additional State incentives for its relocation. The Montgomery County Economic Development Corporation (MCEDC) worked with the company to provide introductions to partners, incentives and available space.
“We welcome Genetron Health as yet another international company to have chosen Montgomery County. More global companies are making their home in our diverse community with the right set of assets that will help them be successful,” said Benjamin H. Wu, MCEDC President and CEO. “We congratulate Genetron on their exciting FDA Breakthrough Device designation, which is expected to be a catalyst for their rapid expansion.”
Genetron Health is committed to providing a one-stop, multi-scenario genomic profiling solutions in areas including early cancer screening, diagnosis and monitoring, as well as biopharmaceutical services.
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About MCEDC
The Montgomery County Economic Development Corporation (MCEDC) is the official public-private economic development organization representing Montgomery County, Maryland. Created in 2016, MCEDC is led by a Board of Directors of business executives. Its mission is to help businesses start, grow and relocate in Montgomery County by helping them gain access to top talent, business and market intelligence and prime locations. For more information, visit our website. Follow us
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About Genetron Holdings Limited
Genetron Holdings Limited (“Genetron Health” or the “Company”) is a leading precision oncology platform company based in China that specializes in cancer molecular profiling and harnesses advanced technologies in molecular biology and data science to transform cancer treatment. The company has more than 700 employees in China with two manufacturing facilities and five clinical laboratories. For more information, please visit ir.genetronhealth.com.
Contacts:
Kristin O’Keefe
VP of Communications & Marketing240-641-6703 This email address is being protected from spambots. You need JavaScript enabled to view it.
Hoki Luk
Head of Investor Relations Genetron Health Inc. 408-891-9255 This email address is being protected from spambots. You need JavaScript enabled to view it.