Biotechnology company Vazyme and the International Finance Corporation (IFC), a member of the World Bank Group, have agreed to cooperate on overseas expansion opportunities in some countries of two regions, Asia and Latin America. Vazyme is exploring the possibility of constructing medical-diagnostic laboratories and establishing a complete medical-diagnostic supply chain in these regions , in line with the IFC Global Health Platform's priorities to build resilient health systems and strengthen future pandemic preparedness through diversified regional medical value chains. On March 10, 2022, Dr. Zhang Lijun, Vazyme Co-Founder and Vice President, and Rana Karadsheh, IFC Regional Industry Director for MAS Asia, attended a virtual signing ceremony on the cooperation, which will include technical support by IFC on conducting feasibility studies, and other consulting services.
"IFC is the world's largest development institution focused exclusively on the private sector in developing countries, demonstrating strong financial resources, a pool of experts, global experience, and innovative thinking," Dr. Zhang Lijun said. "With the support of IFC, we can manage the constraints and difficulties inherent in the fields of finance, infrastructure, employee skills, and the regulatory environment, among others."
Dr. Zhang added that IFC has more than 60 years' experience unlocking private investment and exploring markets and opportunities. "We are confident that we can seize new chances and improve the medical conditions of locals where we are looking, with the partnership of IFC."
Working with IFC, Vazyme aims to continue to achieve product innovation, strengthen business relationships, develop complementary strengths, and foster capacity development and win-win cooperation. Vazyme strives to leverage technological advances to bring more premium medicines and diagnostic approaches to the international market for the benefit of all people.
Established in 2012, Vazyme remains committed to its mission of "Science and Technology Make a Healthier Life." The company focuses on technology innovation and continuously expanding the application fields of core technologies in life science, bio-medicine, and in vitro diagnostics. As one of the leading R&D innovative enterprises in China, Vazyme is at the forefront of bringing products worldwide to serve unmet customers' needs and accelerate the growth of the biotechnology industry.
Alongside its focus on technology innovation and expansion of applications across the life sciences and beyond biotechnology development, Vazyme is dedicated to fulfilling its social responsibility as a major contributor to employment, environmental protection, and community well-being.