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Bio-Rad (BIO)-Seegene Pact to Provide Diagnostic Suit In U.S.
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Bio-Rad Laboratories, Inc. (BIO - Free Report) recently partnered with Seoul, Korea-based Seegene, Inc., for clinical development and commercialization of infectious disease molecular diagnostic products.
Per the agreement, Seegene will provide diagnostic tests to be used on Bio-Rad's CFX96 Dx Real-Time PCR System for the pending clinical development in the United States markets and to pursue authorization from the FDA.
The partnership with Seegene is intended to provide required diagnostic testing products to U.S. markets.
Few Words on Seegene Assays
The assays offered by Seegene are suited for syndromic testing. They feature a unique design, chemistries and high-level multiplexing that can identify multiple infectious disease targets at the same time. The assays provide multiplex real-time PCR detection and differentiation with high sensitivity and specificity up to seven targets in a single reaction, and the results are delivered in approximately four hours.
Industry Prospects
Per a report published in MarketsandMarkets, the global infectious disease diagnostics market size is projected to witness a CAGR of 7.2% by 2026. Factors such as growing prevalence of infectious diseases and the onset of COVID-19; implementation of broad-scale population-based testing by infectious disease diagnostics to combat COVID-19; increasing awareness for early disease diagnosis; shift in focus from centralized laboratories to decentralized POC testing and rising technological advancements are expected to drive market growth.
Image Source: Zacks Investment Research
Given the substantial market prospects, Bio-rad’s recent collaboration related to infectious disease molecular diagnostic products seems well-timed.
Notable Developments
In June 2021, Bio-Rad launched the PREvalence ddPCR SARS-CoV-2 Wastewater Quantification Kit to test community wastewater for SARS-CoV-2. This assay is based on ddPCR technology, recommended in the Centers for Disease Control and Prevention guidelines for wastewater testing. It is also stated as a dependable method to quantify viruses in wastewater by the Environmental Protection Agency. This cost-effective assay is intended to serve as a highly-sensitive early warning system that can be implemented on a community-wide basis to manage the spread of COVID-19.
In the same month, the company’s RAPID'E.coli 2 Agar for water testing received U.S. Environmental Protection Agency (EPA) approval to test drinking water for Escherichia coli (E. coli) and total coliforms in U.S. laboratories. This solution for water safety testing offers simultaneous enumeration of E. coli and total coliforms in less than 24 hours. It includes a chromogenic medium and a selective supplement to identify the bacteria, removing the need for a confirmation step.
In May 2021, Bio-Rad launched the SEQuoia RiboDepletion Kit for genomics research. The kit is designed for genomics researchers targeting rare transcripts or working with a limited or degraded sample. It eliminates irrelevant ribosomal RNA (rRNA) fragments from an RNA-Seq library, thereby improving assay efficiency and reducing the costs of sequencing RNA samples. It is also capable of retaining RNA transcripts that are commonly lost when using other methods.
Share Price Performance
Bio-Rad has outperformed the industry in the past year. The stock has rallied 42.3% compared with the industry’s 18.4% growth.
Zacks Rank and Key Picks
Currently, Bio-Rad carries a Zacks Rank #3 (Hold).
A few better-ranked stocks from the Medical-Products industry include PetIQ, Inc. (PETQ - Free Report) , National Vision Holdings, Inc. (EYE - Free Report) and Envista Holdings Corporation (NVST - Free Report) .
National Vision Holdings, which carries a Zacks Rank #1, has a long-term earnings growth rate of 23%.
Envista Holdings, which carries a Zacks Rank #2 (Buy), has a long-term earnings growth rate of 26.4%.
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
Image: Bigstock
Bio-Rad (BIO)-Seegene Pact to Provide Diagnostic Suit In U.S.
Bio-Rad Laboratories, Inc. (BIO - Free Report) recently partnered with Seoul, Korea-based Seegene, Inc., for clinical development and commercialization of infectious disease molecular diagnostic products.
Per the agreement, Seegene will provide diagnostic tests to be used on Bio-Rad's CFX96 Dx Real-Time PCR System for the pending clinical development in the United States markets and to pursue authorization from the FDA.
The partnership with Seegene is intended to provide required diagnostic testing products to U.S. markets.
Few Words on Seegene Assays
The assays offered by Seegene are suited for syndromic testing. They feature a unique design, chemistries and high-level multiplexing that can identify multiple infectious disease targets at the same time. The assays provide multiplex real-time PCR detection and differentiation with high sensitivity and specificity up to seven targets in a single reaction, and the results are delivered in approximately four hours.
Industry Prospects
Per a report published in MarketsandMarkets, the global infectious disease diagnostics market size is projected to witness a CAGR of 7.2% by 2026. Factors such as growing prevalence of infectious diseases and the onset of COVID-19; implementation of broad-scale population-based testing by infectious disease diagnostics to combat COVID-19; increasing awareness for early disease diagnosis; shift in focus from centralized laboratories to decentralized POC testing and rising technological advancements are expected to drive market growth.
Image Source: Zacks Investment Research
Given the substantial market prospects, Bio-rad’s recent collaboration related to infectious disease molecular diagnostic products seems well-timed.
Notable Developments
In June 2021, Bio-Rad launched the PREvalence ddPCR SARS-CoV-2 Wastewater Quantification Kit to test community wastewater for SARS-CoV-2. This assay is based on ddPCR technology, recommended in the Centers for Disease Control and Prevention guidelines for wastewater testing. It is also stated as a dependable method to quantify viruses in wastewater by the Environmental Protection Agency. This cost-effective assay is intended to serve as a highly-sensitive early warning system that can be implemented on a community-wide basis to manage the spread of COVID-19.
In the same month, the company’s RAPID'E.coli 2 Agar for water testing received U.S. Environmental Protection Agency (EPA) approval to test drinking water for Escherichia coli (E. coli) and total coliforms in U.S. laboratories. This solution for water safety testing offers simultaneous enumeration of E. coli and total coliforms in less than 24 hours. It includes a chromogenic medium and a selective supplement to identify the bacteria, removing the need for a confirmation step.
In May 2021, Bio-Rad launched the SEQuoia RiboDepletion Kit for genomics research. The kit is designed for genomics researchers targeting rare transcripts or working with a limited or degraded sample. It eliminates irrelevant ribosomal RNA (rRNA) fragments from an RNA-Seq library, thereby improving assay efficiency and reducing the costs of sequencing RNA samples. It is also capable of retaining RNA transcripts that are commonly lost when using other methods.
Share Price Performance
Bio-Rad has outperformed the industry in the past year. The stock has rallied 42.3% compared with the industry’s 18.4% growth.
Zacks Rank and Key Picks
Currently, Bio-Rad carries a Zacks Rank #3 (Hold).
A few better-ranked stocks from the Medical-Products industry include PetIQ, Inc. (PETQ - Free Report) , National Vision Holdings, Inc. (EYE - Free Report) and Envista Holdings Corporation (NVST - Free Report) .
PetIQ, currently sporting a Zacks Rank #1 (Strong Buy), has a long-term earnings growth rate of 25%. You can see the complete list of today’s Zacks #1 Rank stocks here.
National Vision Holdings, which carries a Zacks Rank #1, has a long-term earnings growth rate of 23%.
Envista Holdings, which carries a Zacks Rank #2 (Buy), has a long-term earnings growth rate of 26.4%.
Zacks Names “Single Best Pick to Double”
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
You know this company from its past glory days, but few would expect that it’s poised for a monster turnaround. Fresh from a successful repositioning and flush with A-list celeb endorsements, it could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in a little more than 9 months and Nvidia which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>