Leading tissue and cord blood banking company CyGenics Ltd. (ASX: CYN)(PNK: CYGCF) and Indonesia’s leading pharma company, PT Kalbe Farma Tbk, today officially launched their joint venture cord blood banking company, CordLife Indonesia.
CordLife Indonesia has been in operation since December 2003. The cord blood units have been couriered to Singapore, for processing and storage at the company’s AABB-accredited facility. The volume of business in Indonesia has grown to the extent that the operations now require a cord blood processing and storage facility in the country. The new facility is expected to be fully operational by early 2007, and the company intends to seek AABB accreditation for this facility.
CordLife Indonesia will launch expanded marketing and sales of cord blood banking business later this year, to educate the market on the importance of stem cells, and to bring quality cord blood banking services to the Indonesian people.