GC Biopharma's liquid biopsy and genomics analysis subsidiary GC Genome has unveiled plans to launch a cancer testing solution in the Japanese and U.S. markets, aiming to achieve sales of 70 billion won by 2028.
On the 23rd, GC Genome Chief Executive Officer Ki Chang-seok held a corporate briefing at the Conrad Hotel in Yeouido, Seoul, stating, "By integrating artificial intelligence with the cancer testing solution 'ai-CANCERCH,' which holds the most clinical data in Korea, we aim to expand the number of cancer types eligible for early diagnosis from six to 20 by 2028."
Ki joined GC Genome in 2018 after working as a professor in the field of genetic diagnostics at Samsung Medical Center. He mentioned intentions to enter the global markets, including Japan and the U.S.
Established in 2013, GC Genome offers over 300 types of genetic testing services, including health screenings, prenatal and neonatal testing, precision cancer diagnostics, and genetic testing for rare hereditary diseases. The flagship products are ai-CANCERCH and the non-invasive prenatal testing solution 'G-NIPT.'
ai-CANCERCH is a multi-cancer early detection method that combines liquid biopsy and AI. Using only 10 mL of blood, it accurately detects six types of cancer, including lung, colorectal, liver, esophageal, pancreaticobiliary, and ovarian cancers, with an accuracy of 82.2% (sensitivity) for actual patients, and a specificity of 96.2% for non-patients, providing diagnostic results within a maximum of 14 days.
The company is currently promoting local commercialization alongside Genece Health, which previously exported the liquid biopsy technology of ai-CANCERCH. In the Japanese market, GC Group's Japanese subsidiary GC Lymphotech officially launched ai-CANCERCH last April.
GC Genome plans to accelerate the global market expansion of 'G-NIPT,' which holds the number one market share in domestic prenatal testing. G-NIPT analyzes fetal DNA from maternal blood to check for major chromosomal disorders such as Down syndrome and Edwards syndrome, providing results within just three days after testing. The company has announced plans to expand the number of detectable diseases from 140 to 200.
Ki noted, "It is estimated that about 25% of all expectant mothers in the country undergo the G-NIPT test. In contrast, the rate in Japan and Southeast Asia is around 5%. We plan to launch in the Japanese market following the Southeast Asian market, which includes countries with high birth rates such as Indonesia, Vietnam, and Thailand."
GC Genome has recorded an annual average sales growth rate of 11.9% over the past four years among domestic hospitals and clinics; however, it could not avoid the impact of last year's conflict with medical professionals. The revenue for last year was 25.9 billion won, a decrease of 5.1% compared to the previous year, alongside an operational loss of 1.2 billion won.
Ki stated, "Since the supply source for genetic testing products is still mainly domestic hospitals and clinics, sales declined due to the conflict with medical professionals last year," but expressed hope that significant performance growth would begin this year. In fact, revenue for the first quarter of this year reached a record high of 6.8 billion won. The projected performance for this year is revenue of 35.6 billion won and an operating profit of 5.2 billion won.
GC Genome is pursuing an initial public offering (IPO) through the technology exception listing system. In November of last year, it received a technology evaluation grade of A from an evaluation agency and is set to be listed on the KOSDAQ market early next month after completing demand forecasting.