Pamicell Signs MOU with Saudi FCC for Middle East Expansion

Pharmicell announced on the 2nd that it has agreed to jointly collaborate on stem cell medical and beauty-related projects in Taif City, Saudi Arabia, with the Saudi Arabia Financial Consulting Center (FCC).

FCC is promoting urban redevelopment projects with the Taif provincial government and is also cooperating with domestic local governments to establish a smart city in Taif City. On the 29th of last month, Sultan Alsadoon, CEO of FCC, and his delegation visited Pharmicell's headquarters, toured the stem cell research and treatment facilities, and agreed to actively promote stem cell-related businesses within Saudi Arabia.

Under the goal of transforming Taif City, known as a Saudi tourist city, into a hub for stem cell treatment and a medical tourism destination, Pharmicell and FCC decided to jointly carry out stem cell medical and beauty-related projects. They formed a task force with the Saudi Ministry of Health, Taif City, and Taif University to establish a phased roadmap and agreed to cooperate on technology transfer of stem cell therapeutics, operation of stem cell research spaces within Taif University, and clinics within hospitals.

A Pharmicell official stated, "We visited Saudi Arabia in March to discuss various measures to specialize Taif City as a city focused on stem cell treatment," adding, "We reviewed all necessary matters such as the establishment of stem cell clinics and approval for stem cell culture fluid cosmetics within Saudi Arabia." He continued, "The FCC CEO and his delegation visited Korea for due diligence and signed a business cooperation agreement," and added, "We will do our best to achieve good results."

This content was produced with the assistance of AI translation services.