Licenses Granted to Provide Genetic Testing and Cell & Tissue Storage Services in Shanghai
Synergising with Existing Immunotherapy Investments, Paving the Way for Precision Medicine
HONG KONG, Feb. 26, 2018 /PRNewswire/ — Golden Meditech Holdings Limited (SEHK stock code: 00801) ("Golden Meditech" or the "Company", together with its subsidiaries, the "Group"), a leading integrated healthcare enterprise in China, is pleased to announce that Shanghai GM Diagnosis Co., Ltd.* ("GM Diagnosis"), a subsidiary of the Group, has obtained a Practicing License for Medical Institution* to provide molecular genetic pathology services. This marks another major development in the Group’s precision medicine field, following its strategic investment in immunotherapy business in the United States of America ("U.S.A.") in 2017, as well as setting up its two subsidiaries, namely Shanghai GM LifeBank Co., Ltd.* ("GM LifeBank") and Shanghai GM BioX Co., Ltd.* ("GM BioX"). GM LifeBank provides cell and tissue storage services, while GM BioX conducts biotechnology research and development. Both obtained relevant operational approvals in 2014 and 2015, respectively.
The Group has now completed our diversification into biomedical industry to provide entire services from storage to treatments via our wholly owned subsidiaries as well as our strategic overseas investments. Our wholly owned subsidiaries, GM Diagnosis and GM LifeBank provide DNA sequencing services and cell and tissue storage services respectively, and adopt foreign advanced technology and equipment to promote genetic testing to the general public, whereas our GM BioX currently undergoes R&D for the treatment of cancers and genetic disorders. Moreover, the Group will collaborate closely with several precision medical institutions in the U.S.A. to provide long-distance medical consultation and technical support on clinical molecular diagnosis, so as to achieve early screening, early diagnosis and early treatment of cancers, diabetes and other genetic disorders.
The management of the Group believes that the existing challenges in the biomedical sector, for instance, finding solution to long-term preservation of tissue samples, as well as solving the lack of Asian neonatal DNA data for large-scale cohort studies, will bring great business opportunities to Golden Meditech. This is because the Group, through our partnership in China, possesses a comprehensive database that includes more than half million cord blood stem cell samples and is equipped with strong hospital network and research and development resources.
This opens a new chapter in our business development in the biomedical industry. By leveraging on our strong technology platform, large self-built genetic data centers and a professional team, the management believes that the Group will be able to provide one-stop services to individual clients, cancer patients and leading medical and research institutions at home and abroad. These services include cell and tissue storage, DNA sequencing, data analysis, molecular diagnosis, auxiliary clinical decision, biomedical research and development and health management. The Group is committed to helping people achieve quality lives through precision health management in areas such as cancer treatments, genetic disorders and anti-ageing care, thus consolidating its leading position in the integrated healthcare industry.
About Golden Meditech Holdings Limited (SEHK stock code: 00801)
Golden Meditech (www.goldenmeditech.com) is a leading integrated-healthcare enterprise in China. It is a first-mover in China, having established its dominant positions in several markets including the medical devices market and the hospital management market in the healthcare industry, thanks to its strengths in innovation and market expertise and the ability to capture emerging market opportunities. Going forward, Golden Meditech will continue to pursue a leading position in China’s healthcare industry both through organic growth and strategic expansion.
* For identification purpose only.