Biosolution Signs Cartilife Supply Deal in China
Biosolution is accelerating its efforts to target the Chinese market, spearheaded by its autologous chondrocyte therapy ‘Cartilife’.Biosolution announced on August 13 that it signed a final partnership main contract for the prescription and procedure of Cartilife with ‘China Hainan Boao Internationa
Biosolution, a company focused on the Chinese market, has secured a significant partnership with China Hainan Boao International Hospital. This agreement, signed on August 13, allows Biosolution to prescribe and perform Cartilife, the company's autologous chondrocyte therapy, at the hospital in Hainan Province. China Hainan Boao International Hospital, a tertiary general hospital, holds sales approval from local pharmaceutical authorities, enabling immediate procedures.
The hospital is capable of supplying and administering Cartilife to 1,000 patients annually, thanks to its own GMP facilities. The local price for Cartilife is 150,000 yuan (around $24,230.77) per session, making it competitive against a US competitor, MACI, which costs over $60,000 (about $85 million won). Biosolution's CEO, Lee Jung-sun, believes this partnership marks a turning point for local revenue generation in China and intends to expand consultations with additional large local hospitals.
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