Australia’s SpeeDx and Syngenis enter strategic partnership to boost diagnostics capacity

MedTech News: Australian-based SpeeDx, a developer of innovative molecular diagnostic solutions announced investment in SynGenis, an experienced oligonucleotide manufacturer based in Western Australia. The partnership will bolster internal capacity of SpeeDx to support large-scale increases in manufacturing while developing and expanding sovereign capacity of important raw materials used in molecular diagnostics.

“We have invested considerable resources into our production scale-up processes to support the increase in testing seen as a result of the global pandemic,” said Tom Lin, SpeeDx Director of Global Operations. “Enhancing our access to quality raw materials ensures we remain committed to
maintaining supply chain security for our customers worldwide.”

The increased demand for COVID-19 diagnostics has in turn increased global demand for the oligonucleotide raw materials that form the basis of molecular diagnostic products. In addition to this supply chain burden, reduced flights and increased customs challenges entering Australia has
complicated freight and delivery times from overseas suppliers. SpeeDx investment in local oligonucleotide manufacturing reduces supply chain risk and develops stronger sovereign capacity for critical diagnostics for a more robust national health infrastructure.

“As Australia’s experienced commercial oligonucleotide manufacturer with significant expertise, we are delighted to have this strategic partnership to supply custom oligonucleotides with highest quality and fast turnaround time,” said Rakesh Veedu, SynGenis Founder and Managing Director.

SynGenis Chairman Steve Arnott said “The partnership with SpeeDx is a strong vote of confidence in the capability and capacity of Syngenis staff and operations and provides a significant platform for our future development. In addition to securing local supply chain, SpeeDx investment in local industry serves to fast track the growth and expand the reach of SynGenis in the global diagnostic market.

Dave Sharma MP also acknowledged this local collaboration. “Congratulations to SpeeDx and Syngenis on this important strategic partnership between two innovative Australian companies, helping to build a local, high-technology capability in a key area of need for Australia.”