September 20, 2007

Genovis bets on growing markets in Asia – continues expansion with new office in Hong Kong

Regulatory

A number of Asian countries are making substantial investments in the life sciences industry. Significant efforts first and foremost in stem cell research, vaccine development and RNA interference have been carried out in recent years in countries that include Singapore, South Korea and China. Core competency can also be found in other large markets such as India, Japan and Australia. Genovis is now establishing itself in the Asian market by opening an office in Hong Kong. Genovis is a biotechnology company that develops and markets innovative technologies for medical research. The company’s shares are listed on the First North part of OMX Nordic Exchange.

The Asian effort will be headed by Björn Hammarberg, who will represent Genovis in the Asia-Pacific region and the Middle East. Björn Hammarberg has many years of experience from molecular biology, including from KTH. He has also worked with business development and the marketing of products and services to the biotechnology industry and research institutes the world over on behalf of companies such as AstraZeneca and PALL Life Sciences.

“It is incredibly exciting to have the opportunity to participate early in the commercialization phase and subsequently be a part of building the business in the Asia-Pacific region and the Middle East,” says Björn Hammarberg, the Genovis representative in Hong Kong. “Genovis technology, expertise and products are quite timely with respect to the massive efforts that are being made in stem cell research and RNAi in many quarters of the region.”

With the new office in Hong Kong and by hiring Björn Hammarberg Genovis is gaining a platform from which to proceed for its business development and marketing.

“Obviously we wish to be competing in the markets that are making investments and growing,” says Sarah Fredriksson, CEO of Genovis. “There is a strong drive in this market and a large demand for new technologies and products, which I hope that we will address and continue to develop. Initially, we will be focusing primarily on Singapore, Japan and South Korea.”

The market for Genovis products is growing annually by approx. 15-30 percent and Asia is one of the markets that is showing the strongest growth. The Genovis office in Hong Kong is yet another step in the company’s expansion internationally. Genovis will begin sales of its NIMT® technology for gene transfer, magnetic labeling and siRNA delivery directly to customers on September 27 of this year.

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