Vietnam to adopt Indian stem cell technology
The Hanoi-based Hoang Lam Cosmetic Pharmaceutical Joint Stock Company has signed a memorandum of understanding (MoU) with India’s Stempeutics Research Pvt. Ltd. to introduce stem cell technology in Vietnam.
The signing ceremony took place on July 31 at the Vietnam-India Business Forum in New Delhi, witnessed by Vietnamese Prime Minister Pham Minh Chinh and many ministers and officials from both countries.
Under the MoU, the two companies will establish a framework for cooperation, including granting the Hoang Lam company rights to exclusively distribute Stempeutics' stem cell products and to apply of new stem cell technologies and techniques in Vietnam. The agreement also covers the sides’ joint establishment of a laboratory in the Southeast Asian country. Additionally, they will collaborate on related research, development, and clinical application in selected Vietnamese central-level hospitals.
The Hoang Lam company will provide the necessary support to facilitate regulatory approvals and clinical trials of Stempeutics' stem cell products in Vietnam. The Vietnamese Ministry of Health has directed the firm to implement the MoU's provisions for therapeutic and cosmetic applications.
Headquartered in Bangalore, Karnataka, South India, Stempeutics is known for having the first globally licenced stem cell product for treating symptoms related to diabetes, joint issues, and more. In India, the company is committed to providing safe, effective, and affordable stem cell-based products.
