Skip to main content
Premium Trial:

Request an Annual Quote

Vela Dx Exits Judicial Management

NEW YORK (GenomeWeb) – Vela Diagnostics announced today it has officially moved out of judicial management.

Singapore-based molecular diagnostics firm went into judicial management — a procedure similar to Chapter 11 bankruptcy protection — earlier this year after its initial investor pulled out. Chinese pharmaceutical firm Luye Pharma Group has since become the main investor in Vela.  

Vela told GenomeWeb recently that it plans to further develop its technology and expand its presence in new geographies includingChina. The company currently offers 30 PCR-based tests, of which 27 are CE-IVD marked, and four next-generation sequencing tests, including three which are CE-IVD marked. The company plans to launch three additional NGS tests later this year.