trending Market Intelligence /marketintelligence/en/news-insights/trending/X0y451Geh7eNsPAccE9REQ2 content esgSubNav
In This List

Pillar Biosciences forms JV with laboratory services provider to lower costs

Blog

Insight Weekly: Unease roils markets; US likely to slip into recession; firms' cash ratios fall

Blog

Insight Weekly: Bank boards lag on gender parity; future of office in doubt; US LNG exports leap

Blog

Insight Weekly: Job growth faces hurdles; shale firms sit on cash pile; Africa's lithium future

Blog

Insight Weekly: Loan growth picks up; US-China PE deals fall; France faces winter energy crunch


Pillar Biosciences forms JV with laboratory services provider to lower costs

Clinical cancer diagnostics company Pillar Biosciences Inc. is forming a joint venture with laboratory services provider China Biotech Services Holdings Ltd.

The joint venture company will provide precision diagnostic products and services in Hong Kong, Macau, South Korea and Southeast Asia.

Gang Song, founder and CEO of Pillar Biosciences, said the joint venture will help decrease costs and increase the accuracy of tests, especially for patients whose samples were being shipped from Hong Kong to the U.S. or other countries for genetic analysis.

The newly created company will also distribute Pillar Biosciences' products including the SLIMamp and PiVAT-based cancer panels in parts of China.

In addition, Hong Kong-based China Biotech Services will take part in Pillar Biosciences' series B financing round that was initially closed in November 2018.

The deal between the two companies was signed Jan. 9 at the JP Morgan Healthcare Conference.