SEOUL, South Korea--(BUSINESS WIRE)--Macrogen (CEO Hyonyong Chong, www.macrogen.com) (KOSDAQ:038290), a precision medicine and biotechnology company, announced that the company completed the merger of its affiliated companies in the U.S. as of December 31st, 2015.
Macrogen Corp. (USA), an affiliated company of Macrogen Inc. has survived as the surviving corporation after the merger with the subsidiary company of Macrogen Inc, Macrogen Clinical Laboratory Inc. (MCL), and another corporation, Axeq Technologies Inc.
Through the merger, Macrogen aims to maximize synergy among the three companies by unifying sales and marketing channels, and providing a total-solution (or service) including clinical diagnosis on CES (Capillary Electrophoresis Sequencing) and NGS (Next Generation Sequencing).
Moreover, the company will be able to cut the business costs and improve the profitability by reducing investment overlap on medical research and clinical diagnosis, focus on business management and R&D capacity, and strengthen its new service development.
Hyonyong Chong, the CEO of Macrogen, said “We are able to strengthen our competitiveness in North America through the merger of our U.S. affiliates. We look forward to stepping into North American market as the leading precision medicine company with cost-efficient structure in marketing and management, and aggressive investment strategy for R&D and facilities as well as the upcoming launch of our new services.”