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MADIA tech report: Genetics is a growing business
Monrovia Weekly May 07, 2021
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By Brenda Trainor
It is never easy to start a business, especially one involving innovative biological and medical sciences. There are many factors to balance: product, customer, distribution, pricing, and of course the required rigor to assure delivery of a consistently high-quality, and scientifically-sound product. Medical businesses have even more complicated pathways to success as they are subject to significant regulation both in development and for ongoing operations.
Fulgent Genetics is a home-grown success story. Once described as a closely-held genetics testing startup founded in 2011, stock in Fulgent Genetics is now publicly traded on NASDAQ, and the company was recently identified as “the number one provider of COVID-19 tests in the state of California by California Department of Public Health,” processing the highest volumes of tests.
Joe Roach is the now-retired co-founder of Fulgent Therapuetics and Fulgent Genetics. A pioneer in genetic testing, he will be telling the story of the company’s journey from the laboratory to Wall Street. His presentation, “Genesis through Publicly-Traded Company and the Bumps and Bruises Along the Way” will be featured on a virtual Zoom meeting hosted by MADIA Tech Launch on Wednesday May 12, 2021 beginning at 6:30pm. There is no cost to attend, but advance registration is required to access the meeting link: https://madia_tech_fulgent.eventbrite.com.
The focus of the company’s early products was on genetic testing focusing on rare pediatric diseases. As genetic science and the company advanced together, the company can now offer over 18,000 single-gene tests and can offer testing panels for more the 7,500 genetic conditions including various cancers as well as cardiovascular and neurological diseases. Genetic science has advanced with “Next Generation Sequencing” enabling faster and more efficient tests, and utilizing such revolutionary strategies in analyzing the human genome contributes to the success that bioscience can experience in the stock market.
MADIA Tech Launch is a local nonprofit educational organization based in the heart of the San Gabriel Valley whose mission is to ensure the region’s technical, scientific, and industrial workforce is connected and has the tools they need to be successful, MADIA provides educational programs in entrepreneurship, business finance and operations, and technology development and commercialization in settings which encourage networking and collaboration among members.
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