Pillar Biosciences enters strategic partnership with China Biotech Services Holdings to deliver precision diagnostics to markets in Asia

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Jan 10, 2019, 12:51 ET

SAN FRANCISCO, Jan. 10, 2019 /PRNewswire/ -- Pillar Biosciences, Inc., a clinical cancer diagnostics company based in Boston, MA, USA and Shanghai, China, is forming a strategic partnership and joint venture with China Biotech Services Holdings, Ltd (CBSH; HKSE: 08037). The agreement was signed on January 9^th at the JP Morgan Healthcare Conference in San Francisco.

Under the terms of the agreement, Pillar Biosciences will create a joint venture company with CBSH's subsidiary Central Laboratory (Holdings) Limited to provide precision diagnostic products and services to Hong Kong, Macau, South Korea and Southeast Asia. Furthermore, the joint venture company will distribute Pillar Biosciences' products including the SLIMamp® and PiVAT® based cancer panels in parts of China. As part of the agreement, CBSH will participate in Pillar's Biosciences' Series B financing round that was initially closed in November 2018.

"Historically, patient samples had to be shipped from Hong Kong to the United States or other countries for genetic analysis, which increased the costs and limited the accuracy of these types of tests," said Dr. Gang Song, founder and CEO of Pillar Biosciences. "We are excited to partner with CBSH to deliver economical and accurate cancer diagnostic products and services to patients in Hong Kong and many regions of southeast Asia."

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About Pillar Biosciences

Pillar Biosciences is a clinical cancer diagnostics company based in Boston, Massachusetts and in Shanghai, China. We create precision NGS panels and software solutions to make clinical NGS robust, streamlined and cost-effective. Our SLIMamp®- and PiVAT®-based products are intended to deliver the most value to high-throughput reference laboratories and clinical oncology laboratories.

Learn more at https://pillar-biosciences.com.

About China Biotech Services Holdings, Ltd

The goal of CBSH is to deliver accurate disease detection to a vast patient population by developing a large health system with cutting-edge technologies and service distribution channels. CBSH's subsidiary Central Laboratory (Holdings) Limited is a Hong Kong-based clinical testing company with a third-party pathological testing lab (PHC), which was established in 1969 and has broad brand awareness and a large network of customers and cooperative organizations in Hong Kong.

SOURCE Pillar Biosciences, Inc.