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| Further Expands Presence in the Healthcare-related Industry |
HONG KONG, Feb 22, 2016 - (ACN Newswire) - Sino Harbour Holdings Group Limited ("Sino Harbour" or the "Group") (Stock code: 1663) has announced that the Group's wholly-owned subsidiary, Sino Harbour Bio Technology Limited ("SH BioTech HK") has entered into a strategic cooperation framework agreement (the "Framework Agreement") with The First Affiliated Hospital of Shantou University Medical College ("Shantou Uni Hospital"), the Zhejiang Gene Stem Cell Biotech Company Limited ("Zhejiang GSCB") and Beijing Sanyouli Technology Development Company Limited ("BJ Sanyouli"). According to the Framework Agreement, all parties are to set up a new company ("New Company") in the PRC and utilise their respective resources and experience to collaborate in the stem cells sector. SH BioTech HK will be the largest shareholder of the New Company.
The New Company is to be mainly engaged in a variety of aspects in the stem cells business, covering i) collection and storage of stem cells, including cord blood stem cells, umbilical cord mesenchymal stem cells and adipose-derived stem cells; ii) proliferation of stem cells, clinical study and applied investigation of stem cells and research and development of products utilising stem cells; and iii) transplantation of and medical treatments with stem cells. In addition, the New Company also intends to establish hospitals or cooperate with relevant local hospitals for health and anti-aging therapy, cancer therapy and dental services in Shantou City, Guangdong Province, the PRC. It is to also explore the stem cells business, especially in self-immune system storage technology, in other countries.
Shantou Uni Hospital is a provincial Class Three Grade A public hospital, with one of the highest current rankings in the PRC. Shantou Uni Hospital principally supports and manages the operation of the New Company. It will also offer the New Company preferential rights for handling the stem cells collection and storage business from its Obstetrics and Gynecology Department.
Zhejiang GSCB is engaged in the business of commercialization of stem cells technology. It is one of the implementation units of the National High-tech R&D Program of the PRC, with expertise in stem cells technology, including liquid separation, extraction, cultivation and enlargement of stem cells. The first dental cell resources storehouse in the PRC was established by BJ Sanyouli, which is involved in stem cells technology operations. Its founder Wu Zuze is a renowned global expert hailed as the father of hematopoietic stem cells in the PRC.
Mr. Wong Lui, Executive Director of Sino Harbour, said, "The notable increase in national income, growing health awareness of the greater public, introduction of the two-child policy and rapidly ageing population are driving the expansion of the high-end biomedical industry in the PRC market. We firmly believe that the stem cells sector will become one of pillar industries for the future economic progress in the PRC. The Group's high-end medical businesses such as pharmaceutical inspection and stem cells are set to become its growth drivers.
In 2013, the Group's parent company Pan Hong Holdings Group Limited acquired 10% equity interest in Zhejiang GSCB, becoming the third-largest shareholder of Zhejiang GSCB. We will continue to actively explore the opportunities in the medical and healthcare-related industries, fully realise the synergies between pharmaceutical products, pharmaceutical inspection and stem cells businesses and broaden the income stream. Bolstered by supportive national and provincial policies, riding on the enormous huge potential market demand for high-end medical services and backed by the strong professional capabilities and advanced technologies of our partners, we are confident in the prospects of the stem cells business of the new company."
Contact:
Strategic Financial Relations Limited
Vicky Lee Tel: (852) 2864 4834 Email:vicky.lee@sprg.com.hk
Kate Chan Tel: (852) 2864 4806 Email:kate.chan@sprg.com.hk
Sophie Du Tel: (852) 2114 4901 Email:sophie.du@sprg.com.hk
Topic: Press release summary
Source: Sino Harbour Holdings Group Limited
Sectors: Daily News, Healthcare & Pharm
https://www.acnnewswire.com
From the Asia Corporate News Network
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