Vazyme (688105.SH), China's leading biotechnology company, has officially signed a global strategic cooperation agreement with Azenta Life Sciences ("Azenta", Nasdaq: AZTA), which will promote to establish "one-stop" service process for both companies in the fields of next-generation sequencing, automated library preparation, raw material supply, experimental consumables, sample storage and more.
Dr. Nie Junwei, General Manager of Life Science Division, Vazyme, and Mr. George Ge, General Manager of Azenta China, witnessed by Dr. Cao Lin, Chairman and Founder of Vazyme, and Mr. Stephen S. Schwartz, Global President and CEO of Azenta, signed the agreement on behalf of both parties.
Vazyme, a global supplier specializing in design, manufacture and application of bioactive compounds, is committed to expanding the application fields of core technologies in life science, in vitro diagnostics, bio-medicine, and others. Leveraging its expertise in bioactive compounds, Vazyme is developing innovative biosolutions to bolster the research and development in life science.
Headquartered in the U.S., Azenta is a global leader in life science solutions, providing innovative and reliable solutions for sample research and management. Azenta sample exploration and management solutions will accelerate impactful breakthroughs and therapies to market with greater speed and precision, and the company has established long-term partnerships with many multinational corporations and higher education institutions.
"We are very pleased to achieve this global strategic cooperation, as partners with a solid foundation for cooperation - Vazyme had established deep collaboration with GENEWIZ (Azenta's genomics service) in 2016, we believe the new cooperation initiative will further expand and deepen Vazyme and Azenta's cooperation," said Dr. Nie, General Manager of Life Science Division, Vazyme.
Vazyme: accelerating global roadmap with controllable upstream technology development and end product manufacturing capabilities
Vazyme reported strong financial performance in 2022. The company's operating revenue reached USD 517.25 million, a 90.99 percent growth year-on-year, and its regular business revenue of USD146.96 million increased by 41.03 percent year-on-year. Life science, in vitro diagnostics, and bio-medicine were business sectors with top three growth and performance.
Vazyme's strong financial performance in 2022 can be attributed to its focus on innovation and investment in cutting-edge technologies. To meet the varying needs of customers and partners, Vazyme invested a total of USD57.39 million in R&D in 2022, which was a 71.98 percent increase year-on-year, and its R&D team now has 1,196 researchers. By the end of 2022, Vazyme has obtained 109 patents, including 53 patents for invention, and it has built state-of-the-art R&D and production facilities that will meet various product needs.
Vazyme thrives to deliver comprehensive solutions tailored to the diverse needs of the customers leveraging its core technologies, and aims to steadfastly enhance public health together with its partners towards a healthier, safer, and greener future.
Looking forward, Vazyme and Azenta will carry out global cooperation in the fields of automated sample solutions, oligo synthesis, molecular biology services, and GLP standard specification services, fully integrating the resources and advantages of both companies to lead innovative breakthroughs, jointly developing international markets, and contributing to the life and health of all people.