Macrogen Completes Merger of US Affiliates to Become Macrogen Corp.
Merger will help Macrogen Corp. eliminate redundant R&D and business costs and provide a unified clinical diagnosis service
Recently, biotechnology and precision medicine firm Macrogen merged a trio of its U.S. based affiliates. The move will effectively align the affiliates behind the company’s core mission: Precision medical research and clinical diagnosis. Now, Macrogen Corporation – the surviving entity of the merge – will include:
- Macrogen Corp
- Macrogen Clinical Laboratory
- Axeq Technologies, Inc.
Through the merger, Macrogen will be able to accomplish a number of cost-saving and synergistic measures. For one, Macrogen will be better positioned to provide total service for both research and clinical purposes, including Capillary Electrophoresis Sequencing (CES) and Next Generation Sequencing (NGS) through a single platform. The merger also streamlines the sales and marketing channels of the three affiliates, allowing for greater investment to strengthen new services, align management, and maximize profitability.
Macrogen’s CEO, Hyonyong Chong, shared his thoughts about the merger, saying that the alignment would help make the company more efficient and competitive in North America. Additionally, Chong said it would align resources across the three affiliates, encouraging more aggressive investments in R&D and facilities.