Life sciences firm secures Chinese deals

A Glasgow-based firm focused on medical-grade collagen is aiming to grow in China after signing distribution agreements with two new channel partners in the country.

Collagen Solutions has agreed the deals with Dakewe Biotech Co and Shanghai Regenic Biomedical following the restructuring of the Scottish company’s presence in China and it gaining an export licence earlier this year..

Dakewe Biotech, which has a customer base of more than 10,000, will distribute Collagen Solutions’ products to the research market and engage in business-to-business sales, while Shanghai Regenic Biomedical will sell and distribute goods to the medical device and regenerative medicine sectors.

Chief executive officer Jamal Rushdy said: “We have made good progress since our restructuring in China and the addition of these two new channel partners is testament to the growth opportunity for us there. We have been working hard to secure these distribution agreements and with these in place, we are now well-positioned to engage further with customers in China. We look forward to working closely with our new distributors and growing our presence in the region.”

The news follows the company last month reporting a fullyear underlying loss of almost £1.6 million, compared with £1.26m a year earlier.

At the time, the firm said aspectsoftheyearwere“disappointing” but it cited “underlying positive trends” that would boost future results and highlighted progress in the Chinese market. 0 Jamal Rushdy, CEO at Collagen Solutions