The CEO of CyGenics Ian Brown with InvestHK's John Rutherford at the opening of CordLife's Hong Kong office and laboratory facilities today. CordLife is a subsidiary of CyGenics

Top stem cell biotechnology and immunotherapy company CordLife recently opened its Hong Kong office and laboratory facilities.

Ian Brown, the CEO of CyGenics, the Australian-listed parent company of CordLife, said  the new office will be the company's lead facility for the North Asia market and Hong Kong.

"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," said Mr Brown.

"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. The city also 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," he added.

Mr Brown also explained CordLife's service and development in Hong Kong and across the region. "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. It will also serve as the marketing and sales office, providing customer care and education.

John Rutherford, the acting director-general of investment promotion at Invest Hong Kong, said Cordlife'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 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. CyGenics also has offices in Boston, Zurich, London, Bangkok, Jakarta, Medan and Melbourne.

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