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Biocartis, Guangzhou Wondfo Biotech form JV to market cancer platform in China

Biocartis Group NV and Guangzhou Wondfo Biotech Co. Ltd. formed an equally owned joint venture to commercialize Idylla in mainland China.

Idylla is a fully automated molecular diagnostics, or MDx, platform used to inform cancer treatment prescriptions.

Biocartis and Guangzhou Wondfo agreed to provide the venture a total of €14 million of equity funding over several tranches.

Biocartis said the Chinese MDx market is expected to reach a total value of $1.5 billion by the end of 2022, driven by rising cancer incidence in the country. The Belgium-based company said Idylla will provide Chinese laboratories and hospitals fast and easy access to diagnostic data.