BIOVIC is pleased to announce the addition of their new shareholders Growing Ocean
International (Singapore) and Anhui Jianyuan Medical Equipment (Anhui province, China).
Anhui Jianyuan will also become BIOVIC’s sole distributor in China for its AVATAR® Vascular Graft. China has a medical device market that is one of the fastest growing market sectors in the country, with this industry maintaining double-digit growth for over a decade. In 2018, the medical device market in China reached $78.8 billion, an increase of 22% over 2017 (www.export.gov).
BIOVIC is excited about this collaboration and is busy preparing to enter this
market with the partnership of Anhui Jianyuan Medical.
BIOVIC Sdn Bhd welcomes it's first equity investment from Innocorp Ventures Sdn Bhd, a subsidiary of Agensi Innovasi Malaysia. "Agensi Inovasi Malaysia (AIM) is a statutory body created to jump start wealth creation through knowledge, technology and innovation to stimulate and develop the innovation eco-system in Malaysia. They lay down the foundation of innovation that inspire and produce a new generation of innovative entrepreneurs."
Innocorp Ventures has recognized the value BIOVIC brings to the Malaysian Bioeconomy, not only with it's products, but also with it's technology and intellectual property. Through it's investment, Innocorp has committed to seeing BIOVIC through to the commercialization phase and beyond.
BIOVIC announces the initiation of a Post Market Comparative Clinical Study between it's flagship product the AVATAR® PTFE Vascular Graft and competitor PTFE grafts. This is a randomized, multicenter trial studying the patency of the AVATAR® graft used for dialysis (arterio-venous) access. Clinical data will be made available in the form of marketing materials as the study progresses.