Dx&Vx and PanaCura sign agreement to expand precision medicine services in Korean traditional medicine

Dx&Vx said it has entered into a supply agreement with PanaCura, a company specializing in developing traditional Korean medicine-based therapeutics, to provide precision medicine services tailored to oriental medicine.

Through this partnership, Dx&Vx will offer precision medical analysis services, while PanaCura will supply these services and related products through its network of traditional Korean medicine hospitals and clinics.

The agreement expands their collaboration from developing in vitro diagnostic (IVD) medical devices to integrating precision medicine analysis services that can be applied alongside these devices in clinical settings.

The two companies have been working together since last year when they signed a memorandum of understanding (MOU) to co-develop IVD medical devices for use in traditional Korean medicine. With this contract, they are taking steps toward commercialization.

"Through this agreement, we aim to integrate precision medicine into traditional Korean medicine, advancing personalized treatment and the digitalization of the field,” PanaCura CEO Jang Hyeung-jin, who is also a professor at Kyung Hee University College of Korean Medicine, said.

Dx&Vx Head Park Sang-jin also said, "By combining our expertise in precision medicine with PanaCura's specialization in oriental medicine, we plan to expand customized precision medical services in oriental hospitals.”

Utilizing the largest clinical genomic database in Korea, the company seeks to contribute to the digitalization and innovation of medical services in oriental medicine, Park added.

Meanwhile, Dx&Vx is also planning to leverage its Chinese subsidiary and the network of the Coree Group to expand precision medicine into the traditional Chinese medicine (TCM) market.