Vela Diagnostics and Luye Group Ltd Sign New Investment and Collaboration Agreement

Singapore (July 24, 2015) – Vela Diagnostics and Luye Group Ltd announced today that they have signed an investment and collaboration agreement to bring Diagnostics and Pharmaceutical synergies to the patient.

This new collaborative investment agreement is the first step to combine the benefits of diagnostics and drug development in order to improve the patient outcome. The agreement also marks the start of a fresh partnership between Vela Diagnostics and Luye Group Ltd.

"This new investment will not only enable Vela Diagnostics to continue to invest in its PCR and NGS workflow innovations but it will also strengthen Vela's customer focus and support in existing markets and especially leverage Vela's entry in the Chinese diagnostics market", said Michael Tillmann CEO of Vela Diagnostics.