TEMPLE CITY, Calif.– Fulgent Genetics, Inc. (NASDAQ: FLGT) (“Fulgent Genetics”, “Fulgent”, or the “Company”), a technology-based genetic testing company focused on transforming patient care in oncology, infectious and rare diseases, and reproductive health, today announced the opening of its new state-of-the-art oncology laboratory in El Monte, California, near the Company’s global headquarters in Temple City. This new CLIA-certified lab will enable Fulgent to expand its capabilities in somatic molecular diagnostics and cancer testing and more efficiently serve oncology clients on the West Coast of the United States.
Fulgent’s new 25,000 square foot state-of-the art facility will supplement its next-generation sequencing (“NGS”) capabilities with testing across immunohistochemistry, flow cytometry, cytogenetic analysis, fluorescence in-situ hybridization (“FISH”) and molecular genetics, and will complement the Company’s existing pathology lab operations in Alpharetta, Georgia. Fulgent has made significant cash investments in the build-out of the new facility in El Monte and plans to make ongoing investments in sales and support infrastructure to further scale the operations of the lab on the West Coast. Fulgent’s Chief Medical Officer, Dr. Larry Weiss, has led the integration and expansion of the Company’s oncologic testing efforts since the acquisition of CSI Laboratories in August of 2021 and will continue to oversee operations of the new facility.
“We are excited to expand our strategy in cancer testing and molecular diagnostics with the opening of our new state-of-the-art facility in southern California,” said Dr. Larry Weiss, Chief Medical Officer of Fulgent Genetics. “While our CSI laboratory in Alpharetta has been on the forefront of diagnostic cancer testing, the new laboratory in El Monte is more concentrated in predictive cancer testing which is of special interest to hematologists, oncologists and biopharma in this era of precision medicine. To that point, the majority of the new facility’s wet space consists of NGS technology, and we will be offering a full suite of somatic and germline testing for cancer patients for both our East and West coast clients.”
“Oncology testing and precision medicine are core to our long-term growth strategy,” said Brandon Perthuis, Chief Commercial Officer of Fulgent Genetics. “We have long realized that Fulgent has a differentiated technology platform that enables us to deliver these types of services at scale, and with this new lab and expanded sales team, we believe we offer an attractive package of services, support and rapid turnaround time for oncology testing. While the CSI team has historically been focused on hospital-based pathology sales, this new lab and team will focus more on direct sales to hematologists and oncologists, significantly expanding our addressable market. The opening of this new lab is another major step for Fulgent in becoming a one-stop shop for oncology testing.”
