New Delhi, Dec 7
Cryobanks International, a pioneer in the field of cord blood processing and storage, has announced that it has entered into an agreement to license its proprietary technology in the UAE and Thailand to its India licensee, RJ Corp.
In a 50:50 joint venture with Thailand's Indo Rama Group, RJ Corp will open a Cryobanks facility in the UAE and Thailand in 8-10 months. The investment in each centre would be close to $2.5 million. The joint venture and Cryobanks International have also agreed for three other markets - Malaysia, Sri Lanka and Indonesia. Ms Dhara Jaipuria, Chairman of Cryobanks International India, said: "This historic agreement will bring one of the most advanced life-saving technologies in the field to the people of the UAE and Thailand." Cryobanks International Inc currently has 10 licensing agreements in place. Additionally, it plans to open more than 40 locations worldwide over the next few years.