Through its subsidiary AMDL Diagnostics Inc., Radient Pharmaceuticals Corp. today announced it has entered into a full-service five-year exclusive distribution agreement with Hong Kong based Bio-Asia Diagnostics Co. Ltd. (Bio-Asia). This distribution agreement will enable Radient Pharmaceuticals to bring its Onko-Sure™ IVD cancer test into the Hong Kong healthcare market.
According to the terms of the agreement, Bio-Asia will purchase at least 800 Onko-Sure® test kits. Bio-Asia will be responsible for providing marketing, sales, and distribution services to get Onko-Sure in major diagnostic centers, clinical reference labs, and hospitals in Hong Kong. Additionally, Bio-Asia will reach out to hospitals and cancer research centers in the PRC to provide Onko-Sure® test kits for RUO purposes. Bio-Asia has a network of over 300 major hospitals in Hong Kong and the PRC.
RPC’s Chairman and CEO Douglas MacLellan stated, “This announcement represents a strategic advancement in the global commercialization of our Onko-Sure® cancer test. Hong Kong provides an excellent market for diagnostic tests and Bio-Asia is a leading distribution company there as well as in the PRC. Support from international distributors, including Bio-Asia, is key to the long-term growth of Radient and we are excited to add them to our growing list of distribution partners. Through such partnerships RPC is making substantial progress in meeting global demand for cancer testing.”
MacLellan added, “Beginning 2011, committed minimums for Hong Kong plus RUO sales in the PRC are anticipated to generate over $200,000 USD annually. We appreciate the confidence Bio-Asia has demonstrated in RPC and we will support their efforts to continue to aggressively expand distribution throughout this important territory.”