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Eone-Diagnomics Genome Center Announces IPO, Listing on Korean Market

NEW YORK (GenomeWeb) – California-based precision genomic medicine solutions provider Diagnomics announced late Friday that the Eone-Diagnomics Genome Center had a successful initial public offering on June 26. It is now listed on the Korea Securities Dealers Automated Quotation under the ticker EDGC.

The Eone-Diagnomics Genome Center (EDGC) is an international joint venture established in 2013 by Diagnomics and South Korean clinical laboratory Eone Life Science. It offers clinical and consumer genetics products and services, focusing on big data and genome analysis utilizing next-generation sequencing and array technologies, including noninvasive prenatal testing, newborn genetic screening, a DTC test called Gene2me, and an ophthalmology genetic test.

Details of the IPO were not disclosed.

"This is exciting news for EDGC, their employees, their customers, and investors," Diagnomics CEO Byung-In Lee said in a statement. "This extraordinarily talented and capable team of professionals worked hard to make this happen and we are proud to be a part of this successful joint venture with Eone Laboratories. It demonstrates a big step toward the international reach and impact of the Diagnomics team in San Diego."

EDGC CoCEO Min Seob Lee also noted that the IPO was "highly competitive," adding, "We are looking toward collaborating with our respective strengths and furthering our reach as a leader in the global genomics market to advance the impact of genomics in health."

The EDGC announced in August 2017 that it had signed a strategic partnership agreement with GPBio, a Chinese genetic analysis company, to develop and expand consumer and clinical genomic services for the Asian markets. And in December, the center said it had signed an agreement to offer its Gen Screen non-invasive prenatal test in certain Asian markets in partnership with cord blood service provider Cordlife.