Gene Bio Medical (GBM), a leading Canadian biotechnology company specialising in molecular diagnostics, has signed a Memorandum of Understanding (MoU) with Bình Định Pharmaceutical - Medical Equipment Joint Stock Company (BIDIPHAR) to establish a large-scale production facility in Bình Định, Vietnam.
This strategic joint venture aims to manufacture high-quality diagnostic test kits using Canadian technology to serve Vietnam, Southeast Asia, the Middle East, and North America.
With an established distribution network in 4,900 independent pharmacies and hospitals across Canada, GBM's respiratory diagnostic product line is set to receive FDA approval in 2025. The company's proprietary RNA and DNA biomarker detection technologies offer femtomolar sensitivity, providing accuracy on par with or exceeding PCR testing. By integrating AI-driven diagnostics, GBM enhances speed, precision, and scalability, reinforcing its position as a global leader in molecular diagnostics.
The BIDIPHAR-GBM joint venture represents a $10-20 million investment aimed at establishing a state-of-the-art manufacturing facility in Bình Định. This collaboration is a testament to GBM's commitment to global expansion and pandemic preparedness, positioning the company as a key player in next-generation diagnostics.
Key objectives of the joint venture include- Establishment of a cutting-edge production facility in Bình Định, Vietnam; Serve the Vietnamese market and expand into Southeast Asia, the Middle East, and North America; Advance pandemic preparedness with scalable diagnostic solutions; and Achieve a US NASDAQ listing and Vietnam Stock Exchange listing within five years.
