Euformatics expands into the Chinese NGS market through distribution agreement with INSVAST
HELSINKI, Finland — Euformatics, a bioinformatics software company providing world-leading NGS interpretation and quality control tools has signed a distribution agreement with INSVAST, a company specialising in delivering bioinformatics solutions to Chinese NGS laboratories.
The agreement covers the full omnomics Suite of products from Euformatics and provides INSVAST with a full end-to-end offering to their customers through their pre-existing relationship with secondary analysis company Sentieon. The complementary nature of the deal means that both Euformatics and INSVAST will be able to take advantage of the exponentially growing market for NGS technologies in China.
With a strong track record of deploying to more than 100 customers in the past 6 years INSVAST has grown fast to become a leading bioinformatics solution provider in the second largest and most competitive market in the world. Local sequencer powerhouse MGI has made large strides into pushing the uptake of NGS techniques in China in recent years, and the demand for bioinformatics solutions to complement the sequencing infrastructure continues to grow fast.
“China has an enormous market for NGS that is advancing at a speed which will ensure that NGS becomes the global norm in genetic testing. The capabilities of Euformatics’ software allow us to provide world-leading bioinformatics software to some of the world’s best healthcare institutions and initiatives, as well as complete our NGS offering. We believe that by combining omnomicsQ, the most comprehensive NGS sample quality control tool available on the market, with the analytical power of omnomicsNGS, we can ensure that laboratories running NGS in China produce impactful results, making a real difference to patient lives and the way we treat diseases”, says Eric Lee, Co-Founder and Chief Engineer of INSVAST.
Euformatics CEO, Tommi Kaasalainen, says of the agreement “INSVAST already has a strong network of connections with the NGS bioinformatics sphere in China, and we are sure that they are well placed to bridge the gap between those labs looking for quality NGS bioinformatics tools and what we have to offer. The fact that INSVAST is already successfully working with other bioinformatics providers which our products complement means that the value proposition to customers is even stronger. We are excited to take these first steps into China, and hope that this will be the start of a very successful partnership in developing the NGS capabilities of Chinese laboratories”.
The agreement is the latest in a long line of distribution agreements that Euformatics has signed since the beginning of 2021, including a couple in Latin America and Europe. The company has made it clear that it sees Latin America and Asia as its target regions for expansion this year, with this deal highlighting that continued drive.
About INSVAST:
At Shanghai Yi-seok Information Technology Co., Ltd. (INSVAST) we exist to provide world-leading products in the bioinformatics domain, focusing on bioinformatics analysis software, genetic diagnosis, drug screening and virtual Supercomputer Center, HPC platform software and as well as other related services for technology companies. INSVAST offering covers also commercial software, HPC platform construction, computing resources support and other solutions. With more than 6 years of experience in the market and over 100 customers, we are ready to bring the right solution to you.
For more information, please visit our website www.insvast.com
About Euformatics:
Euformatics is a Finnish software company that specialises in high standard bioinformatics tools for genomic data interpretation. Since 2010, Euformatics has been helping medical doctors and molecular genetics laboratories provide better precision medicine for cancer, common or rare disease diagnostics. At present, our core solution is the omnomics Suite which includes omnomicsNGS; for clinical analysis and reporting of patient NGS data, and omnomicsQ; for NGS data quality management.
For more information, please visit our website www.euformatics.com
