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ProPhase Labs Subsidiary, G42 Healthcare Enter Strategic Collaboration for Genomics

NEW YORK — ProPhase Labs said on Wednesday that its subsidiary ProPhase Precision Medicine, which owns Nebula Genomics, has signed a strategic collaboration with Abu Dhabi-based health tech firm G42 Healthcare for genomic sequencing and other areas.

Under the terms of a memorandum of understanding, ProPhase Precision Medicine and G42 will explore collaborations in areas including genome sequencing, artificial intelligence, genomic data sharing, and the establishment of an advanced sequencing facility in the US.

Additional terms of the partnership were not disclosed.

"G42 Healthcare is an enabler of the world's largest and most comprehensive population genomics initiative, the Emirati Genome Program, which aims to move the traditional ecosystem from sick care to preventive healthcare for [United Arab Emirates] citizens, making G42 Healthcare an ideal strategic relationship for ProPhase as we look to bolster our next-generation sequencing capabilities and build our new state-of-the-art genomic sequencing facility," ProPhase Lab CEO Ted Karkus said in a statement.

"We are confident that this partnership with ProPhase will deliver comprehensive genome data, biological insights, and healthcare outcomes for better personalized and preventive healthcare delivery," said Ashish Koshy, CEO of G42 Healthcare, in a statement.

This summer, Garden City, New York-based ProPhase Labs reported a more than threefold increase in second quarter revenues amid greater demand for its diagnostic services.