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Gene Bio Medical & BIDIPHAR Form Joint Venture for Healthcare

Gene Bio Medical

Gene Bio Medical (GBM), a leading Canadian biotechnology company specializing in molecular diagnostics, has signed a Memorandum of Understanding (MOU) with Bình Định Pharmaceutical – Medical Equipment Joint Stock Company (BIDIPHAR) to establish a large-scale production facility in Bình Định, Vietnam. This strategic joint venture aims to manufacture high-quality diagnostic test kits using Canadian technology to serve VietnamSoutheast Asia, the Middle East, and North America.

The announcement was made during a high-profile meeting between the Bình Định People’s Committee, representatives from the Consulate General of Canada in Ho Chi Minh City, the British Columbia Office in Vietnam, and key executives from Gene Bio Medical and BIDIPHAR.

Investment and Market Expansion

GBM, headquartered in British Columbia, Canada, is recognized for its breakthrough innovations in molecular diagnostics and AI-driven healthcare solutions. During the COVID-19 pandemic, GBM played a critical role in global public health, delivering over 48 million high-quality SARS-CoV-2 rapid test kits to the Government of Canada.

With an established distribution network in 4,900 independent pharmacies and hospitals across Canada, GBM’s respiratory diagnostic product line is set to receive FDA approval in 2025. The company’s proprietary RNA and DNA biomarker detection technologies offer femtomolar sensitivity, providing accuracy on par with or exceeding PCR testing. By integrating AI-driven diagnostics, GBM enhances speed, precision, and scalability, reinforcing its position as a global leader in molecular diagnostics.

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GBM’s Business Mission to Vietnam and Partnership with BIDIPHAR

In late March 2024, Gene Bio Medical participated in a Canadian trade mission delegation led by Canada’s Minister of Trade, Mary Ng, on visits to Hanoi and Ho Chi Minh City. During this mission, the Consulate General of Canada facilitated a B2B meeting to introduce BIDIPHAR to Gene Bio Medical. In November 2024, the Women trade mission led by Asia Pacific Foundation of Canada, Voice president Christine Nakamura and Director A.W Lee. visited Vietnam again and met with BIDIPHAR’s CEO Ms. Phạm Thị Thanh Hương in Ho Chi Minh City, reaching a preliminary agreement.

At the meeting in Bình Định, representatives from the provincial government and various departments introduced Bình Định’s economic and social landscape, investment directions, and priority sectors. The discussion also covered GBM’s investment plans, the joint venture with BIDIPHAR, and investment incentives offered by the province.

Strategic Partnership and Vision

The BIDIPHAR-GBM joint venture represents a $1020 million USD investment aimed at establishing a state-of-the-art manufacturing facility in Bình Định. This collaboration is a testament to GBM’s commitment to global expansion and pandemic preparedness, positioning the company as a key player in next-generation diagnostics.

Key objectives of the joint venture:

  • Establish a cutting-edge production facility in Binh Dinh, Vietnam .
  • Serve the Vietnamese market and expand into Southeast Asia, the Middle East, and North America.
  • Advance pandemic preparedness with scalable diagnostic solutions.
  • Achieve a U.S. NASDAQ listing and Vietnam Stock Exchange listing within five years.

Source: PRNewswire