On 12th March 2024, Teddy Clinical Research Laboratory Limited (Teddylab) has reached a strategic agreement with China Biotech Services Holdings Limited (CBSH) (Stock code: 08037.HK) to establish a “Sino CBSH-Teddylab Joint Laboratory” in Hong Kong. This cooperation is based on complementing strengths from both parties, through collaboration and development, to achieve a “win-win” situation in promoting the development and the application on cell therapy technology, innovative small molecule and ADC biomedical drug discoveries.

The joint laboratory gathers the technical resources and research strengths of both parties in Shanghai and Hong Kong to form a strong research and development team, focusing on the in-depth research and commercialization in precision testing and cell therapy technology. This cooperation will further integrate CBSH with the international clinical trial services to ensure the compliance with Country’s regulations and international standards.    

The joint laboratory will offer CRO clinical research services for clinical trials in Hong Kong, Mainland China and oversea countries, to help pharmaceutical companies in Hong Kong in new drug development and clinical trials. In addition, the joint laboratory will also provide international and professional CRO services to the upcoming establishment of Government’s Hong Kong Centre for Medical Products Regulation (CMPR) and Greater Bay Area International Clinical Trial Institute. That will facilitate Hong Kong to become a medical innovation hub, and to support advanced developments in diagnostic and treatment technologies, drugs and medical devices.

As a listed company on the Hong Kong Stock Exchange, CBSH is committed to build up a cutting-edge biotechnology platform in cancer diagnostic and treatment. Its subsidiaries PHC Medical Diagnostic Centre Limited (PHC), Asia Molecular Diagnostics Laboratory Limited (AMDL) and VCare Premier Medicare Services Limited (VCare) are well-experienced and highly recognized companies in medical testing, molecular diagnostics, and health management respectively.

Teddy Clinical Research Laboratory Limited (Teddylab) is a “one-stop” clinical research laboratory service provider jointly owned by two top listed medical service companies Dian Diagnostics (one of the largest independent medical laboratory chains in China) (Stock code: 300244.SZ) and Tigermed (the CRO leader in China) (Stock code: 300347.SZ and 3347.HK). It is dedicated to drug development-related services to pharmaceutical companies, CROs and research institutions with strict GCP compliance as well as international standards. Teddylab is widely recognized in the field of clinical trial testing by its accumulated experienced in laboratory technology and project management.    

This cooperation will bring great prospects for win-win situation to both parties. They will further strengthen the cooperation in cutting-edge biomedical research, talent nurturing and research result transformations. Both parties will further be benefited from enhancing their technical strength and market competitiveness through joint research and development, resource sharing and market expansion. Meanwhile, based in Hong Kong, backed by the Greater Bay Area and radiating to Southeast Asia, the joint laboratory will inject new vigor into the development of the biomedical industry, promote the rapid development of the entire biomedical industry, and bring more benefits to society and people.