Coson "DesignCell Signs MOA with Iraq Hospital Consortium to Establish Healthcare Center"
(From left) Kim Kiyong, Chief Director of Hangang Yonsei Hospital; Kim Taesung, Chairman of the Korea-Iraq Friendship Foundation; Jasim Mahdi, Representative of the Iraq Hospital Consortium; Kim Yunbae, CEO of Design Cell.
View original image[Asia Economy Reporter Eunmo Koo] Coson announced on the 20th that its subsidiary DesignCell has signed a Memorandum of Agreement (MOA) with the Iraq Hospital Consortium, the Korea-Iraq Friendship Foundation, and Hangang Yonsei Hospital to establish and operate a healthcare center in Iraq.
Through this MOA, the Iraq Hospital Consortium will establish the healthcare center, and DesignCell will be responsible for training research personnel and supporting the center's operations. In particular, stem cell and regenerative medicine education programs will be launched at leading universities both domestically and locally to train researchers and medical staff who will work on-site. Additionally, a medical tourism program will be conducted for patients with intractable diseases who cannot be treated locally and wish to receive treatment in Korea.
A DesignCell official stated, “Dr. Jasim Mahdi of the Iraq Hospital Consortium has served as the vice president of the local Medical Association and president of the Cardiothoracic Surgery Association,” adding, “Given his extensive medical network, we expect investments and agreement implementations in the Middle East region to proceed rapidly.”
A Coson representative said, “This MOA marks the first step toward transforming into a global bio company,” and added, “It is a great opportunity to showcase the excellence of global K-bio in the Middle East, a region barren in regenerative medicine.”
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On the 29th of last month, Coson secured a majority stake by acquiring 51.69% of DesignCell shares to promote new bio-business ventures. DesignCell, a third-generation stem cell research company, has succeeded in developing functional gene-loaded stem cells and possesses a pipeline applicable to various diseases including neurodegenerative diseases such as dementia, as well as glaucoma and arthritis.
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