Medikan and Exostemtech Enter the Saudi Stem Cell and Exosome Market

Exostemtech, an exosome-focused biotech venture (CEO YongWoo Cho), announced on the 18th that it is entering the Saudi Arabian market in the fields of stem cell and exosome-based businesses through a partnership with Medikan (CEO HeeYoung Lee), a company specializing in stem cells and medical devices.

The two companies signed an MOU in January last year for the development of systems for stem cell isolation, culture, and exosome production, and have since conducted joint R&D in the stem cell and exosome sectors. With Medikan’s recent entry into Saudi Arabia, Exostemtech is now also preparing to tap into the Middle Eastern market.

Medikan is currently participating in the Saudi-Korea Industrial Village (SKIV) initiative promoted by the Saudi government and has completed the establishment of Saudi Medikan, a joint venture (JV) based in Saudi Arabia.

More