Case study

Leading Biotech Company Launched in Hong Kong

Top stem cell biotechnology and immunotherapy company CordLife celebrated the grand opening of its Hong Kong office and laboratory facilities at Shui On Centre, Wanchai. The Hong Kong office, CordLife will be the company's lead facility for the North Asia market and for Hong Kong.

At the opening ceremony Mr Ian Brown, the Chief Operating Officer of CyGenics, the Australian-listed parent company of CordLife, said that the company is very excited about its new Hong Kong facilities.

"Hong Kong is a new untapped market for this kind of service. CordLife is committed to bringing high quality laboratory processing and storage standards here. The city's well-developed infrastructure and world-class medical care allow us to maintain our highest level of service."

"We are confident that people in Hong Kong will be receptive to this service, given it is a highly educated market with a large population of expatriates. In addition, the city offers us easy access to the Mainland and North Asia - markets which we plan to explore. Therefore, Hong Kong is an important step for our long-term development in the region," said Mr Brown.

Photo shows (left) the Acting Director-General of Investment Promotion at Invest Hong Kong, Mr John Rutherford, congratulating the Chief Operating Officer of CyGenics, Mr Ian Brown on the opening of CordLife's Hong Kong office and laboratory facilities today. CordLife is a subsidiary of CyGenics.

Mr Brown also explained CordLife's service and development in Hong Kong and across the region. He said, "CordLife established the first private umbilical cord blood (UCB) bank in Singapore, and among the earliest in Asia, serving customers across the region. UCB stem cells used in stem cell therapy are widely recognised as treatment for more than 70 diseases including leukaemia, anaemia and thalassemia. The opening of CordLife's Hong Kong facility will provide parents access to first class UCB bank facilities within Hong Kong."

The Hong Kong office will offer full cord blood processing and storage capabilities and facilities. The new laboratory's state-of-the-art equipment is designed to ensure the highest quality standards are maintained during collection, processing and storage of UCB. The Hong Kong office will also serve as the marketing and sales office, providing customer care and education.

Mr John Rutherford, the Acting Director-General of Investment Promotion at Invest Hong Kong, officiated at the grand opening of CordLife. He said, "We are very pleased that Hong Kong has been chosen by a leading biotechnology company as a location for expanding its business in this region. The company's commitment in bringing in new technology and setting up laboratory facilities has shown its confidence in Hong Kong as a location for investment in the biotechnology sector."

"Cordlife has recognised the advantages Hong Kong has to offer, such as the availability of technical professionals, quality infrastructure, and intellectual property protection - essential for companies of this type. I am sure the company will become an important player in our life sciences community and we at Invest Hong Kong look forward to celebrating their future growth here."

CordLife is a subsidiary of CyGenics, a leading stem cell biotechnology company headquartered in Australia and listed on the Australian stock exchange. CordLife operates American Association of Blood Banks (AABB) compliant tissue banking facilities, and provides tissue banking services, in particular cord blood banking. These banking facilities have full processing and cryogenic storage capabilities. CyGenics also has offices in Boston, Zurich, London, Bangkok, Jakarta, Medan and Melbourne. For further information, visit the website at www.cordlife.com.