Collagen Solutions PLC (LON:COS) has signed distribution agreements with two new Chinese channel partners as it looks to grow its presence in what is a “significant territory” for the maker of regenerative medicines.
Under the terms of the deals, Dakewe Biotech and Shanghai Regenic Biomedical will distribute Collagen’s collagen-based products in China, although they will target slightly different markets.
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Shenzhen-based Dakewe will sell to the research market and engage in business-to-business sales to the medical device industry, while SRB will distribute to the medical device and regenerative medicine sectors.
The appointment of these channel partners follows the restructuring of Collagen’s operations in China and the securing of export licences earlier this year.
The plan is to provide more flexibility in engaging with and providing technical support to Chinese customers, enabling the firm to “take advantage of opportunities” in the country.
“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,” said chief executive Jamal Rushdy.
“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.”