COS.L Share News (COS)

(Sharecast News) - Developer and manufacturer of biomaterials and regenerative medicines Collagen Solutions has signed distribution agreements with two new Chinese channel partners - Dakewe Biotech Company and Shanghai Regenic Biomedical - it announced on Tuesday.The AIM-traded company said the appointment of the channel partners followed the restructuring of its presence in China, and the securing of export licences, earlier this year.Its said the move was in line with its stated strategy to gain more flexibility in engaging with and providing technical support to customers in China, enabling it to take advantage of opportunities within the significant territory.Dakewe Biotech Company was founded in 1999, with headquarters in Shenzhen and subsidiary offices in Beijing, Shanghai, Hong Kong, Guangzhou, Wuhan and Chengdu.Collagen Solutions said Dakewe had more than 400 employees serving an "existing and growing" customer base of over 10,000, and also worked with more than 2,000 sub agents throughout China.Their primary business included the development and manufacture of diagnostic reagents and medical device, and the distribution of life science reagents, foreign and domestic scientific instruments and medical equipment across the country.They would distribute Collagen Solutions products to the research market, and engage in business-to-business sales to the medical device industry.Shanghai Regenic Biomedical, meanwhile, is a company recently established by an "experienced biomedical executive" in China, Collagen Solutions explained, with the purpose of selling and distributing collagen-based products to the medical device and regenerative medicine sectors.Both distributors were bringing different market access, qualities and advantages, which the company said would be "key" in the development of Collagen Solutions sales and distribution channels within China."We have made good progress since our restructuring in China and the addition of these two new channel partners is testament to the growth opportunity for us there," said CEO Jamal Rushdy."We have been working hard to secure these distribution agreements and with these in place, we are now well positioned to engage further with customers in China."We look forward to working closely with our new distributors and growing our presence in the region."