Discussion on Cooperation for Stem Cell Research and Treatment with Saudi Arabia and UAE
Arab Oil-Producing Countries Cooperation Organization Plans to Introduce Stem Cell Therapy Methods
Recently, as domestic pharmaceutical and bio companies in Korea have been actively expanding overseas, the Middle East region is emerging as a new market. Interest in K-bio is growing in Middle Eastern countries including Saudi Arabia, leading to various business agreements. Pamisel is also joining the Middle East wave and plans to accelerate its entry into the global market.
On the 21st, Pamisel announced that it visited Saudi Arabia and the United Arab Emirates (UAE) consecutively to discuss concrete plans for expanding its stem cell medical and cosmetics businesses.
In Saudi Arabia, Pamisel held discussions on specific plans to expand stem cell medical and cosmetics businesses with officials from the Taif Health Authority, known for the Saudi tourist city of Taif, the president of Taif National University, and the Saudi Financial Coordination Center (FCC). The main focus was on developing Taif city into a specialized stem cell treatment city. They also exchanged opinions on plans to introduce stem cell-based therapies in GCC (Gulf Cooperation Council) countries.
In addition, they discussed ▲ opening sales channels for cosmetics containing stem cell culture fluid ▲ installing facilities for treating intractable diseases ▲ establishing joint research institutes, and reviewed procedures for signing agreements.
The meeting with the UAE was also noteworthy. A UAE government official expressed willingness to actively consider establishing a base hospital in the UAE to treat severe patients who want stem cell therapy but find it difficult to travel to Korea. This is because Pamisel possesses manufacturing and development technology for stem cell therapeutics based on ‘Hearticellgram-AMI’. Pamisel plans to proceed with the licensing process for selling stem cell culture fluid cosmetics within the UAE.
A Pamisel official said, "We will cooperate not only to build a global research center with Middle Eastern countries but also to establish specialized stem cell clinics to conduct research and treatment simultaneously." He added, "In particular, the 2 trillion won fund invested by the UAE government is also interested in stem cells and has shown interest in Pamisel."
Since 2016, Saudi Arabia has been promoting ‘Saudi Vision 2030’ to reduce its high dependence on oil. It continues to invest in public services such as education, culture, tourism, and healthcare. In the healthcare sector, various projects are underway to improve the quality and efficiency of public medical services.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
