Organoid utilization drug evaluation service business contract

Published DATE: 2023.5.18

 

 

NEXEL announced on the 15th that it had signed a business agreement with Qingdao haier biotechnology Co., Ltd. located in Qingdao, China. Nexel is a company specializing in 2D and organoids based on human induced pluripotent stem cells (hiPSC).

 

 

(From left) Haier Biological Technology Co., Ltd. R&D Vice President Cao Qilong and right, Nexel CEO Han Chung-seong are taking a commemorative photo after signing the MOU.©Nexel

 

 

The signing of the agreement was carried out as part of a trilateral cooperation between Guangdong Organoid Biotechnology (GOB) and Haier Biotechnology Co., Ltd., which signed a contract with Nexel in April for a drug evaluation service using products and organoids in China.

 

Based on each other's core technologies, the two companies conduct △ drug safety and efficacy evaluation service using hiPSC in China △ research on drug safety and efficacy using organoids △establish hiPSC and organoid storage technology and quality standards, and develop new hiPSC cell line models platform △ hiPSC cell banking business cooperation was agreed.

 

This agreement is of great significance in that the two companies seek new business by combining Nexel's hiPSC and organoid research technology with the business of creating a biotech service platform centered on cell technology, which Haier Biotechnology Co., Ltd. is aiming for. In particular, as Nexel newly joined at the time of promoting the Chinese government certification of the standardized production process of organoids with GOB, the scope of mutual cooperation between the three companies has become more diversified and detailed.

 

Haier Biotechnology Co., Ltd. was established in Qingdao in July 2018 by Haier, a consumer electronics company, to advance into the field of biotechnology. It has business purposes such as research and application of test and disease test development.

 

Currently, Haier Biotechnology Co., Ltd. is carrying out cord blood banking and cancer organoid-related businesses in various parts of China in relation to stem cells, and is expanding its business throughout China by recently completing a GLP facility in Zhongshan, China.

 

Han Chung-seong, CEO of Nexel, said, “The agreement with Haier Life Sciences Co., Ltd. is the result of business expansion in China following the launch of business in the United States and India for the purpose of 'active globalization' that Nexel aims for. He added, "As a bio-exporting company, we plan to carry out business with our partners in each country respecting the principle of mutual benefit in order to promote continuous future growth rather than focusing on immediate profits."