16 July 2015 | News | By BioSpectrum Bureau
California health tech company partners with Korea's Yuyu pharma
Yuyu Pharma has recently opened an office in Kuala Lumpur, Malaysia
Singapore: In a bid to tap the developed and emerging Asian economies, ranging from Indonesia to Japan in east and south east Asia, California-based health technology company Innovation Economy Corporation (ieCrowd) has joined hands with Korea-based Yuyu pharma.
The partnership, an extension of the earlier agreement between Yuyu and ieCrowd, will help both the companies expand future access to healthcare and consumer markets for ieCrowd's portfolio of medical and health technology innovations that the company is commercializing for future sale.
The product list includes ieCrowd's future Kite-branded products, nuuma, and smart oxygen solution, sleep disorder innovations and head pain innovations. The alliance will also provide Yuyu with a potential steady pipeline of future innovations from ieCrowd's medical and life science businesses for a broader set of countries, where Yuyu has existing businesses or business partnerships.
As per the deal, Yuyu will have the right to deploy these future ieCrowd medical innovations into East and Southeast Asian markets directly, via additional ieCrowd or Yuyu partners, and/or in joint product development partnerships with leading global healthcare companies throughout the defined territory.
Mr Amro Albanna, ieCrowd's chairman and CEO, said, "ieCrowd is pursuing an aggressive strategy in Asia, and we believe this new partnership with Yuyu gives each ieCrowd business direct access to the right medical, healthcare, and consumer categories and channels for the future products each ieCrowd subsidiary is working to create."