RPRD (Right Patient Right Drug) Diagnostics, a privately-held, Wisconsin-based precision medicine company, today announced a strategic partnership with Orient Bio Inc., a leading South Korean biotechnology company.
An agreement signed during Governor Scott Walker’s trade mission to South Korea calls for establishing a business plan in which RPRD Diagnostics will expand the availability of its advanced pharmacogenomics (PGx) testing services into new markets and Orient Bio will diversify its business into new areas, including precision medicine and clinical PGx.
“This new partnership will not only benefit both companies, but it represents the many opportunities that exist for future collaborations between South Korea and Wisconsin,” said Governor Walker, who oversaw a ceremony in which the companies signed a memorandum of understanding. “More importantly, this joint initiative has the potential to improve health-care outcomes as well as patients’ lives.”
RPRD Diagnostics’ PGx tests help physicians make decisions about the safest drug treatment for their patients, taking into account the patient’s unique genetic profile. Tailoring treatments in this way can improve patient outcomes, reduce the risk of negative drug reactions and lower overall costs. RPRD Diagnostics, based in Wauwatosa, has developed cost-effective PGx tests, screening thousands of known genetic variants that improve upon traditional, widely used tests that screen just a handful. Read the full story here.