SOL Bio Partners with Jinan Lab to Expand into China and Exchange Exosome Tech
Reading Time: 3 minutesKorean in vitro diagnostic biotech company SOL Bio has entered into a partnership with Jinan Medical Development Medical Test Laboratory in Shandong Province, China, to support its expansion into the Chinese market and facilitate advanced exosome technology exchange. Invited by the city of Jinan to participate in the “2024 Korea-China Bio-Health Industry Cooperation Exchange,” SOL Bio has committed to a range of collaborative efforts. These include the transfer of “Exosome Purification and Separation Technology” and “Early Cancer Diagnosis Technology,” training specialists in exosome and early cancer detection, establishing a local subsidiary, and attracting investment, all in cooperation with Jinan Medical Development Medical Test Laboratory, hereafter referred to as ‘Jinan Medical Development Corporation.’
The ‘Jinan Medical Development Corporation,’ which is part of the ‘Jinan International Center for Medical Science,’ is a state-of-the-art international smart city for healthcare. This project, part of the ‘Healthcare China 2030’ initiative, has received approximately KRW 40 trillion in funding. The complex is designed to support precision medicine, pharmaceuticals, medical devices, and advanced data center infrastructure, and is connected to university hospitals. It also fosters startup incubation, research and development, and talent cultivation. Based in a region home to 170 million people across Northeast China, the center operates a large 2,000-bed hospital and three cutting-edge proton therapy machines.
SOL Bio has unveiled the world’s first ‘Exosome Local Heterogeneity Detection Technology Based on Early Cancer Diagnosis’ and its exosome separation technology ‘NeutraRelease.’ These innovations have received strong support from Jinan City policy makers and officials from both the Jinan International Center for Medical Science and Jinan Medical Development Corporation.
During follow-up consultations, Jinan City officials confirmed their commitment to support SOL Bio’s market entry by assisting with the essential regulatory approvals, establishing a local subsidiary, and facilitating partnerships and investments. This support is expected to significantly accelerate SOL Bio’s expansion into China.
The “Korea-China Bio-Health Industry Cooperation Exchange,” first held in 2018, is now in its seventh year and continues to be a key event for health and medical cooperation between Korea and China. Hosted by the Korea Health Industry Development Institute, Korea Trade-Investment Promotion Agency (KOTRA), and the Administrative Committee of the Jinan International Center for Medical Science, this year’s event focused on promoting cooperation in the healthcare industry and enhancing financial capabilities related to funding. Attended by over 200 high-ranking officials, heads of related institutions, investors, financial institutions, and entrepreneurs from both countries, the event was a success with significant participation from 12 Korean companies including SOL Bio, Hanmi Pharm, and KOLMAR KOREA.
Ban Kyung-Sik, CEO of SOL Bio, expressed optimism about the partnership: “Leveraging Jinan City’s abundant local infrastructure and advanced medical facilities will significantly accelerate SOL Bio’s entry into China. We are eager to expand our business domains using cutting-edge exosome technologies and aspire to become a leading success story in the Chinese medical device and pharmaceutical bio market.”
SOL Bio is a pioneering Korean biotech venture holding proprietary technologies for exosome separation (‘NeutraRelease’), immunological analysis (‘ExoMAIN‘), and the world’s first method to overcome exosome heterogeneity (‘Exosome Local Heterogeneity Detection Technology Based on Early Cancer Diagnosis’).
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