UCrest Berhad (ACE Market: 0005) and Malaysian Genomics Resources Centre Berhad, (ACE Market: 0155) announced today that they have signed a collaborative agreement to integrate genomic testing services into digital health platform, iMedic(TM), elevating healthcare services to the next level.
Under this agreement, a virtual genome service centre will be developed on iMedic platform enabling the genomic testing services of MGRC to be made available to the hospitals and clinics (B2B), widening its market access not just in Malaysia, but globally. Additionally, the genomic testing services will also be made available to patients directly (B2C). Patients’ genomic data from their test results will be integrated into Electronic Medical Records (EMR) making it accessible by doctors and patients in the process of consultation and management, resulting in improved accuracy in diagnosis and treatment.
UCrest is the leading technology provider of digital health platform with offices in Malaysia, Singapore, China and Taiwan providing access to thousands of doctors, including many from the leading hospitals in the United States and China, to provide online consultation and management of patients anywhere in the globe.
Malaysian Genomics is a leading genomics and biopharmaceutical company in ASEAN for genome sequencing, bioinformatics analysis, and genetic screening, and various types of immunotherapy including CAR T-Cell therapy for the treatment of certain cancers.
The global genomics market size was valued at US$20.1 billion in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 15.35% from 2021 to 2028. The Asia Pacific genome sequencing market will grow by 15.6% annually over 2022-2030 due to growing government funding initiatives in genomics projects related to cancer treatment and the utilization of genomics in personalized medicine targeting chronic disease prevention and management.
Mr. Sasha Nordin, Chief Executive Officer of Malaysian Genomics, said, “We are looking forward to working with UCrest as its iMedic platform will provide us an opportunity to reach out to markets beyond Malaysia. The platform will also enable us to strengthen our B2B and B2C channels. This collaboration can play an important role in providing physicians with easy access to the latest in genetic screening, in support of enhancing their medical practice and improving patient outcomes.”
“This partnership with Malaysian Genomics allows us to enhance our vision of integrating preventive and precision medicine into iMedic where genome data will empower the patients to better prevent and manage the chronic diseases with the online consultation of doctors,” said Mr. Eg Kah Yee, Chief Executive Officer of UCrest. “Cancer, Cardiovascular Diseases (CVD), diabetic, asthma, sleep apnea and many other chronic diseases can be prevented, managed or treated more effectively with the addition of the genome services,” he added.