Spanish company Grifols, one of the world's three top manufacturers of plasma-derived medicines to treat life-threatening diseases and a forerunner in the development of plasma protein replacement therapies, and Shanghai RAAS, a leader in China's plasma derivatives sector, have reached a Strategic Alliance Agreement to manufacture, market and develop plasma products and transfusion diagnostic solutions in the Chinese market in compliance with international quality and safety standards.

Under the agreement, Grifols will reinforce its global expansion strategy and commercial presence in the People's Republic of China; among the markets with the greatest growth potential for plasma-derived products and transfusional diagnostic solutions.

This alliance is an important step forward in Grifols' sustainable growth and long-term strategy, generating value for all of its divisions, particularly the Bioscience and Diagnostic Divisions.

In exchange, the agreement will enable Shanghai RAAS to diversify its business with the support of a global leader in NAT technology and other innovative diagnostic solutions.

Shanghai RAAS will also become Grifols' exclusive distributor of plasma-derived products and transfusional diagnostic solutions in China.