On Tuesday, 3Billion, an artificial intelligence (AI)-powered rare disease diagnostics company, announced a new economic development partnership with the city of Austin, Texas.
The agreement, known as the Chapter 380 Business Expansion Agreement, officially recognizes 3Billion as a key player in Austin’s thriving innovation ecosystem.
As part of this partnership, 3Billion plans to establish a cutting-edge genomic analysis laboratory in Austin, aiming to bolster its competitive edge for entering the U.S. market.
Austin, an emerging global hub for life sciences and advanced technology, will provide 3Billion with strategic benefits including assistance in recruiting specialized talent and access to local networks. These advantages are expected to give 3Billion a significant boost in its U.S. business expansion efforts.
Kim Chang-won, Chief Executive Officer (CEO) of 3Billion, stated that it intends to leverage Austin’s robust life sciences infrastructure to offer the unique, high-quality diagnostic services directly to rare disease patients in the U.S. Through close collaboration with local medical professionals, it aims to solidify its position as a leading global genetic diagnostics company.