AsiaMedic in tie-up to set up cord blood stem cells bank in Singapore
Catalist-listed AsiaMedic has entered into a joint venture with Cryoviva International to establish the business of cord blood stem cells banking in Singapore.
The new joint venture company will be named Cryoviva Singapore.
AsiaMedic is confident that this venture can establish its footing by replicating its partner's successful ventures in India and Thailand and leveraging on an FDA (America's Food and Drug Administration) approved stem cell technology originated from US-based Lifeforce Cryobanks.
The joint venture partner, Cryoviva, possesses the track record and business know-how given its market leadership in India and Thailand, AsiaMedic noted in an Singapore Exchange filing on July 2.