Theragen ETEX Bio Institute said Thursday that it has signed a memorandum of understanding with My23 Healthcare to cooperate on expanding its gene analysis services.

Under the agreement, Theragen will provide its genetic analysis services to My 23 Healthcare, and My23 Healthcare will focus on sales, marketing and public relations of the service.

Based on Theragen’s genetic analysis technology, My23 Healthcare will divide the company's 12 direct-to-consumer (DTC) platforms into three categories for sales. Both companies expect to see significant synergies between Theragen's differentiated technologies and My 23 healthcare’s sales, marketing and PR capabilities.

“By signing a business agreement with My23 Healthcare, which has excellent sales, marketing, and PR capabilities, we have laid the basis for providing genome analysis services to more customers,” said Theragen ETEX Bio Institute CEO and President Hwang Tae-soon. “By making gene analysis services more popular, the company will be able to provide higher quality services, which will greatly contribute to the national economy as well as promoting public health in the long term.”

My23 Healthcare also showed confidence in the newly signed MOU.

“Based on the excellent gene analysis technology of Theragen ETEX, anyone can easily use its gene analysis services through My23's online service platform,” My23 Healthcare CEO Hahm Si-won said. “With the collaboration, we will popularize gene analysis services and contribute to accelerating the alpha-aging era.”

Theragen ETEX Bio Institute is one of the leading domestic companies. Some of Theragen’s most significant feats include becoming the first Korean company to succeed in analyzing individual genomes and identifying Korean gastric cancer gene.