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[THE INVESTOR] LG Household and Health Care and life science company Macrogen announced on Oct. 25 that they have signed an agreement to establish a joint venture to enter the consumer genomics market.
The companies will invest a combined 6 billion won (US$5.28 million) and equal stake in Genstory, to develop and provide direct-to-consumer genetic analysis service.
The Ministry of Health and Welfare lifted a ban on having one’s DNA tested at a non-medical entity without a referral from medical institutions, revising the bioethics and safety act in June.
One can now directly request results on 12 health indicators including blood sugar, blood pressure, skin ageing, cholesterol and loss of hair.
Genstory will combine LG Household and Health Care’s domestic and international marketing channels and sales network with Macrogen’s top-of-the-line analysis technology and service capacity, to offer a range of services for consumers.
By Hwang You-mee (glamazon@heraldcorp.com)
The companies will invest a combined 6 billion won (US$5.28 million) and equal stake in Genstory, to develop and provide direct-to-consumer genetic analysis service.
The Ministry of Health and Welfare lifted a ban on having one’s DNA tested at a non-medical entity without a referral from medical institutions, revising the bioethics and safety act in June.
One can now directly request results on 12 health indicators including blood sugar, blood pressure, skin ageing, cholesterol and loss of hair.
Genstory will combine LG Household and Health Care’s domestic and international marketing channels and sales network with Macrogen’s top-of-the-line analysis technology and service capacity, to offer a range of services for consumers.
By Hwang You-mee (glamazon@heraldcorp.com)
