QuidelOrtho, Runda Medical to Form Immunodiagnostic Joint Venture in China

Original from: 360DX

QuidelOrtho said on Friday that it has signed a definitive agreement to form a joint venture (JV) between its China-based Ortho Clinical Diagnostics Trading subsidiary and Shanghai Medconn Biotechnology, a subsidiary of Shanghai Runda Medical Technology (Runda Medical).

The JV will develop and manufacture assays in China for QuidelOrtho's Vitros immunodiagnostic platform, which includes the Vitros 3600 and 5600 instruments and Vitros Automation System that connects these instruments.

Runda Medical is an in vitro diagnostic distributor in China that has developed its own family of instruments and assays. The JV will leverage both parties' know-how to broaden the Vitros test menu and gain efficiencies from local manufacturing at Runda Medical's Shanghai facility. Both companies will contribute personnel and expertise to the JV and will share in the profits of the jointly developed products. 

Additional financial details were not disclosed.

"Our partnership with Runda Medical will help expand our already compelling menu of Vitros assays abroad as well as in the Chinese market, an important, fast-growing region for us," QuidelOrtho President and CEO Douglas Bryant said in a statement. "We're happy with our long-standing partnership and believe that this joint venture will translate into a faster time to market and more compelling menu for Vitros assays in support of our growth strategy in China and beyond."

Following a successful assay pilot program, both companies expect to begin developing a broader set of assays in early 2023 in parallel with building out the JV organization in the Shanghai and Beijing areas, San Diego-based QuidelOrtho said.

Source: QuidelOrtho, Runda Medical to Form Immunodiagnostic Joint Venture in China