Updated on 6 April 2015
The deal will help strengthen Microbix's position in Asia's lucrative diagnostic market
Singapore: Microbix Biosystems has inked a pact with South Korean company Kim & Friends (K&F) to distribute its virology products in the Korean market. K&F has more than 1,500 health care customers in South Korea and is known for providing strong scientific and technical support.
Mr Phil Casselli, senior vice president, Microbix, commented, "Demand for our products from South Korean manufacturers of diagnostic tests has doubled in each of the past two years. However, high shipping costs and lack of local representation prevented us from reaching our full sales growth potential. As a result, we are very pleased to secure this relationship with K&F in South Korea."
He explained that for the past 30 years K&F has offered customers products that are complementary to those offered by Microbix. Mr Kevin Kim, president, K&F said, "We are excited Microbix chose our company as its exclusive partner in South Korea. K&F has a long and successful history in the country's bioscience industry and we are confident we will see strong and sustained growth for Microbix' products as we introduce them to new customers across South Korea."
Mr Vaughn Embro-Pantalony, CEO, Microbix, said, "Asia is one of the fastest growing markets for diagnostic products globally. This deal strengthens our position in this market and will enable our company to continue experiencing strong sales growth in this region of the world."