NEW YORK (GenomeWeb) – Pillar Biosciences announced a strategic partnership and joint venture with China Biotech Services Holdings today that is aimed at the precision diagnostics market in Asia.
Pillar Bio will create a JV with Central Laboratory, a subsidiary of China Biotech Services, to provide precision diagnostic products and services to Hong Kong, Macau, South Korea, and Southeast Asia. Additionally, the JV will distribute Pillar Bio's products, including the SLIMamp and Pivat-based cancer panels, in parts of China.
China Biotech Services will also participate in Pillar Bio's Series B financing round, which initially closed in November.
Financial and other terms of the deal were not disclosed.
Pillar Bio is based in Boston and Shanghai and develops clinical cancer diagnostics, including next-generation sequencing-based panels and software solutions. In late 2017, the company partnered with Illumina to develop NGS-based in vitro diagnostics.
Hong Kong-based China Biotech Services is a clinical testing company with a third-party pathology testing laboratory.