The JV between the subsidiaries of Quidelortho and Shanghai Runda Medical Technology (Runda Medical) aims to develop and produce assays for the former’s VITROS immunodiagnostic platform in China.
QuidelOrtho develops advanced in vitro diagnostics (IVD) technologies that are designed for point-of-care settings, clinical labs, and transfusion medicine.
The JV will leverage the knowledge from both the companies to widen the VITROS test menu, and gain efficiencies from local manufacturing at Runda Medical’s Shanghai facility.
QuidelOrtho president and CEO Douglas Bryant said: “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.
“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.”
The company develops IVD reagent products based on VITROS immunodiagnostic analysers that include VITROS 3600 and 5600 instruments, and the VITROS automation system which connects the instruments.
Its products are used by quick turnaround STAT labs in China.
Runda Medical is engaged in distributing IVD products across the country and has also developed its own family of instruments and assays.
The company and QuidelOrtho will contribute personnel and expertise to the JV and will also share in the profits gained from the products that are developed jointly.
Upon completion of assay pilot programme, the two companies intend to develop a broader set of assays early next year, alongside building out the JV organisation in the Shanghai and Beijing areas.
Runda Medical general manager Hui Liu said: “This partnership is another in-depth strategic cooperation in the field of in vitro diagnostic product research, development, and production.
“Both parties make full use of complementary resources and commit to providing medical laboratories with higher quality in vitro diagnostic platforms and reagents and providing effective support for the diagnosis and treatment of clinical diseases.”