BioMed Technology Among Pioneering Recipients of Investment from CUHK Innovation Limited for Microbiome-based Healthcare Solutions
HONG KONG SAR - Media OutReach Newswire - 26 April 2024 - BioMed Technology Holdings Limited ("BioMed"), a start-up founded by CUHK professors and alumni, announced an investment received from CUHK Innovation Limited.
BioMed Technology Holdings Limited, a startup nurtured by Hong Kong Science Park, was founded by a group of CUHK professors and alumni. The company specializes in microbiology and bioinformatics and is dedicated to promoting precise and personalized microbiome-based interventions. These interventions are designed to restore the balance of the oral, skin, and gut microbiomes, thereby improving both physical and mental health.
Up to now, BioMed has successfully built a microbiome database comprising over 10,000 data points gathered from diverse regions across Asia. This valuable database continues to grow and serves as a promising cornerstone for the company's future R&D endeavors.
Commercially, BioMed has established collaborations with over 200 healthcare service providers in Hong Kong and directly markets its products like E3 probiotics and EC Cream to consumers through more than 260 retail outlets under the PGut Brand. Furthermore, the company has also expanded its operations to Macau, Mainland China, and Thailand.
Managing Director and Chief Investment Officer of CUHK Innovation Limited, Ms Joyce Ng, " People are essential building blocks for business success. The founders of this company comprise professionals from diverse fields who have strong ties to CUHK. These include Professor Tsui Kwok-Wing Stephen, a professor in the School of Biomedical Sciences and director of the Hong Kong Bioinformatics Centre and the Centre for Microbial Genomics and Proteomics at CUHK, Dr. Steven Loo, a dermatologist and Clinical Assistant Professor (honorary) at CUHK, and Vincent Tsang, a serial entrepreneur and CUHK alumnus. By combining their expertise, we believe they can drive innovation and commercialisation to deliver next generation of customerized solutions to consumers."
Medical director and co-founder of BioMed, Dr. Steven Loo stated, "We are honored to be the first company to receive investment from the newly established CUHK Innovation Limited. This partnership will provide us with invaluable support and access to CUHK's robust ecosystem, enabling us to accelerate our research and development initiatives and expand our market presence. With the backing of the CUHK Innovation Limited, we are confident in our ability to take BioMed to new heights of innovation and empower individuals with personalized and effective healthcare solutions that harness the potential of the microbiome."
As part of its strategic expansion, BioMed has recently launched a pioneering initiative in the rapidly growing pet healthcare market. It has joined forces with PetSpace, the leading veterinary group in Hong Kong, to conduct a large-scale research project recruiting a total of 500 felines and canines. This collaboration has positioned BioMed as the primary repository of pet microbiome data in Hong Kong. BioMed and PSG Vivet, a veterinarian-led product development company, have formed a strategic partnership to develop gut microbiome tests and personalized probiotics for pets. The products are expected to launch in Q3 2024.
Chief Executive Officer and co-founder of BioMed, Mr. Vincent Tsang said,"Through the support of the CUHK Innovation Limited, BioMed has fortified its capabilities in providing microbiome-based solutions for human and veterinary healthcare. Our unwavering commitment to advanced technology, scientific research, and personalized health management positions us with utmost confidence to drive innovation and deliver exceptional outcomes."
Hashtag: #BioMedTechnology #BioMed #SciencePark #microbiome #probiotics #CUHKInnovation
https://biomed.hk/
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The issuer is solely responsible for the content of this announcement.
About BioMed Technology Holdings Limited
BioMed Technology Holdings Limited (BioMed), a startup nurtured by Hong Kong Science Park, was founded by a group of CUHK professors and alumni. It advocates precise and personalised microbiome-based healthcare solutions based on DNA testing results, to restore the balance of oral, skin and gut microbiome.
BioMed has raised funds in its oversubscribed seed round from Alibaba Hong Kong Entrepreneurs Fund (AEF), Gobi Partners GBA, The International Medical Co. Ltd. (TIMC) and Human Health Holdings Limited (1419.HK). DSS (NYEX: DSS), a US listed company is also a shareholder of BioMed.
https://biomed.hk/
About CUHK Innovation Limited
CUHK Innovation Limited is a newly established company wholly owned by CUHK to make investments in innovative business and impact ventures related to CUHK's technological innovations. CUHK Innovation Limited will start with an early-stage fund, with a focus on seeking matching funds from venture capital investors.
The Company is committed to supporting CUHK's spin-off companies as they commercialise their innovative research and development achievements, and furthering the University's mission in promoting and enhancing entrepreneurial culture.
https://cuhkinnovation.hk/
