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Mauna Kea Technologies and Tasly Pharmaceutical Announce the Incorporation of Joint Venture in China
Rhea-AI Impact
(Neutral)
Rhea-AI Sentiment
(Very Positive)
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Rhea-AI Summary
Tasly Mauna Kea Medical Engineering Technology Co. Ltd is expanding the reach of Cellvizio into China and launching a dedicated neurosurgical platform globally. This joint venture with Tasly Pharmaceutical Group includes a registered capital of RMB 250 million (EUR 35 million). Mauna Kea Technologies aims to leverage Tasly's commercial strength for market penetration. CEO Sacha Loiseau emphasized the significance of this milestone for achieving shared commercial ambitions with Tasly.
Positive
Joint venture established to enhance market reach of Cellvizio in China.
Registered capital of RMB 250 million (EUR 35 million) indicates strong financial backing.
Creation of a dedicated platform for neurosurgical applications expands product offerings.
Partnership with Tasly leverages their commercial strength in the Chinese market.
Negative
None.
Tasly Mauna Kea Medical Engineering Technology Co. Ltd will expand reach of Cellvizio in China and launch a dedicated platform for neurosurgical applications worldwide
SHANGHAI, China & PARIS & BOSTON--(BUSINESS WIRE)--
Regulatory News:
Mauna Kea Technologies (Euronext: MKEA, ‘Mauna Kea’) (Paris:MKEA) (OTCQX:MKEAY)inventor of Cellvizio®, the multidisciplinary probe and needle-based confocal laser endomicroscopy (p/nCLE) platform, and Tasly Pharmaceutical Group (SH Exchange: 600535, ‘Tasly’), today announced the achievement of a new key milestone in their strategic partnership.
Tasly Mauna Kea Medical Engineering Technology Co. Ltd., based in the Zheijang province of China, is now legally incorporated with registered capital of RMB 250 million (EUR 35 million1). Tasly Mauna Kea Medical Engineering Technology Co. Ltd. will serve as the exclusive commercial platform for expanding the reach of Cellvizio into the Chinese domestic market and will launch a dedicated platform for neurosurgical applications worldwide.
Jing Su, MD, General Manager of Tasly Pharmaceutical Group, commented: “We couldn’t be more enthusiastic about our Joint Venture’s prospects in China and beyond, thanks to the great resources we are collectively endowing it with. We look forward to the upcoming success of this partnership based on synergies between Mauna Kea’s unique Cellvizio platform, Tasly’s commercial strength and its expertise in pharmaceutical development.”
Sacha Loiseau, Ph.D., Chairman and Chief Executive Officer of Mauna Kea Technologies, concluded: “This is an important accomplishment toward advancing Mauna Kea Technologies’ partnership with Tasly, which will allow us to achieve our shared commercial ambitions. I am excited about Cellvizio’s roadmap in China and the opportunity to benefit from Tasly’s significant scale in this key market.”
About Tasly Pharmaceutical Group
Adhering to the business mission of "To share the joy of health with all", Tasly has always been promoting the integrative development of traditional Chinese medicine (TCM) and modern medicine. Tasly continuously focuses on the three disease fields of cardio-cerebro-vascular diseases, digestive and metabolic diseases and tumors, which have the largest market share and the fastest development in China. It is committed to providing drug R&D that is urgently needed for clinical use and even addresses the unmet needs in China's clinical market. By leveraging the coordinated development advantages of modern TCM, biological medicine and chemical medicine, it carries out the strategic layout of innovative drugs and continues to maintain its leading position in the industry and the development momentum of R&D and innovation. For more information, visit www.taslypharma.com.
About Mauna Kea Technologies
Mauna Kea Technologies is a global medical device company that manufactures and sells Cellvizio®, the real-time in vivo cellular imaging platform. This technology uniquely delivers in vivo cellular visualization which enables physicians to monitor the progression of disease over time, assess point-in-time reactions as they happen in real time, classify indeterminate areas of concern, and guide surgical interventions.
The Cellvizio platform is used globally across a wide range of medical specialties and is making a transformative change in the way physicians diagnose and treat patients. For more information, visit www.maunakeatech.com.
Disclaimer
This press release contains forward-looking statements about Mauna Kea Technologies and its business. All statements other than statements of historical fact included in this press release, including, but not limited to, statements regarding Mauna Kea Techonologies' financial condition, business, strategies, plans and objectives for future operations are forward-looking statements. Mauna Kea Technologies believes that these forward-looking statements are based on reasonable assumptions. However, no assurance can be given that the expectations expressed in these forward-looking statements will be achieved. These forward-looking statements are subject to numerous risks and uncertainties, including those described in Chapter 3 of Mauna Kea Technologies' 2021 Universal Registration Document filed with the Autorité des marchés financiers (AMF) on October 18, 2022 under number D-22-0773, which is available on the Company's website (www.maunakeatech.fr), as well as the risks associated with changes in economic conditions, financial markets and the markets in which Mauna Kea Technologies operates. The forward-looking statements contained in this press release are also subject to risks that are unknown to Mauna Kea Technologies or that Mauna Kea Technologies does not currently consider material. The occurrence of some or all of these risks could cause the actual results, financial condition, performance or achievements of Mauna Kea Technologies to differ materially from those expressed in the forward-looking statements. This press release and the information contained herein do not constitute an offer to sell or subscribe for, or the solicitation of an order to buy or subscribe for, shares of Mauna Kea Technologies in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. The distribution of this press release may be restricted in certain jurisdictions by local law. Persons into whose possession this document comes are required to comply with all local regulations applicable to this document.
