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news.Bio-Bridge Science has entered into a non-binding memorandum of understanding with JR Scientific and Mr Jan Baker, president and CEO of JR Scientific.
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Under the memorandum of understanding (MOU), Bio-Bridge Science will form a joint venture (JV) together with JR Scientific (JRS) and several other investors in China. The JV is expected to mainly produce culture medium, serum, and other biomaterial for sale in China and other countries under the brand name of the JV. Cell culture medium and serum are used in vaccine production as well as scientific research.
JRS and Mr Baker as part of the MOU, agreed to transfer technology and ‘know-how’ to the JV. The total investment for the JV is planned to be around $1.4 million.
Liang Qiao, chairman and CEO of Bio-Bridge said: “We are excited to work with Mr Baker, JRS, and other investors to form this JV. The JV will fit into our strategic plan by providing a potential source of revenue as well as vaccine material for our own vaccine research and production.”