13 September 2012 | News | By BioSpectrum Bureau
Vitro Diagnostics, StemGenesis sign deal for China market
Stemgenesis will distribute Vitro Diagnostics' products in China
Singapore: Vitro Diagnostics has signed an agreement with StemGenesis for the exclusive distribution of its products in Chinese provinces of Shanghai, Beijing, Tianjin, Jiangsu, Shandong, Zhejiang, Anhui, Fujian, Hebei, Liaoning and Heilongjiang. The agreement provides for distribution of the entire Vitro Biopharma product line under specific terms and conditions.
The agreement covers Vitro Biopharma's adult mesenchymal stem cell (MSC) lines & derivatives, the MSC-Gro brand of MSC cell culture media and the LUMENESC assay kits for the determination of MSC potency, quality and response to toxic agents. StemGenesis was incorporated in Nevada in 2011 and now has US and Chinese operations through facilities located in Sacramento, CA and Qingdao, Shandong Province, China. StemGenesis is a medical device company with focus on blood transfusion, blood banking and stem cell products. The goal of the company's presence in China is to work with the government at different levels to enhance quality of cell therapy as well as stem cell therapy by introducing the state-of-the-art technologies and products from developed countries.
Dr Jim Musick, Vitro Biopharma's president & CEO, said, "We are very pleased to announce our distribution agreement with StemGenesis. There are substantial markets for our stem cell-based products within China and we now have an appropriate partner for us to pursue these markets."