Gene Bio Medical and BIDIPHAR Announce Strategic Joint Venture to Revolutionize Global Healthcare

VANCOUVER, BC and BINH DINH, Vietnam, March 17, 2025 /PRNewswire/ - 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 Vietnam, Southeast 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.

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.

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.

The BIDIPHAR-GBM joint venture represents a $10-20 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 Bình Định, 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.

Bình Định Province has emerged as a premier investment destination in Vietnam, offering strategic incentives for foreign investors. The Vietnamese government and Bình Định People's Committee are providing attractive investment benefits, including:

• Corporate income tax incentives:

1. 10% tax rate for the first 15 years.
2. Tax exemption for the first four years.
3. 50% tax reduction for the next nine years.

• Import tax exemptions:

Five-year exemption on imported raw materials and semi-finished products unavailable domestically.

• Land and rental incentives:

Discounts and exemptions based on industry classification and investment scale.

With Bình Định's robust infrastructure and investor-friendly policies, the BIDIPHAR-GBM joint venture is poised for long-term success, accelerating biotechnology advancements in Vietnam and beyond.

Jessica Hu, CEO & Founder of Gene Bio Medical, stated:
"Vietnam's growing healthcare market and strategic location make it an ideal hub for our expansion. Our partnership with BIDIPHAR will leverage Canadian technology to provide affordable, high-quality diagnostic solutions across global markets. This joint venture aligns with GBM's mission to enhance global health security through innovation and accessibility."

Lâm Hải Giang, Vice Chairman of Bình Định People's Committee, commented:
"We welcome Gene Bio Medical's investment in Bình Định's biotechnology sector, a key pillar of our economic strategy. The province remains committed to supporting international investors by providing world-class infrastructure and regulatory incentives."

Gene Bio Medical (GBM) is a fully integrated diagnostics company specializing in molecular diagnostics and AI-driven healthcare solutions. Headquartered in British Columbia, Canada, GBM oversees the entire diagnostics value chain, from R&D and manufacturing to global distribution. The company is committed to delivering high-precision, cost-effective diagnostic solutions to address global health challenges, including respiratory diseases, infectious outbreaks, and chronic illnesses.

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Bình Định Pharmaceutical - Medical Equipment Joint Stock Company (BIDIPHAR) is a leading Vietnamese pharmaceutical company specializing in medical equipment and diagnostic products. With decades of expertise, BIDIPHAR is recognized for its commitment to quality, innovation, and healthcare advancement in Vietnam and international markets.

• https://thuonghieucongluan.com.vn/binh-dinh-doanh-nghiep-canada-lien-doanh-voi-bidiphar-san-xuat-cac-loai-kit-xet-nghiem-chan-doan-chat-luong-cao-a254297.html
• https://nhadautu.vn/doanh-nghiep-canada-bat-tay-voi-bidiphar-san-xuat-kit-xet-nghiem-d93958.html 

• Website: https://genebiomedical.com/ 
• Email: [email protected]

SOURCE Gene Bio Medical