Grant Life Sciences to distribute diagnostic tests in China, Hong Kong

By Elaine Rigoli

Tampa, Fla., Sept. 13 - Grant Life Sciences, Inc. has signed a memorandum of understanding with GuongDong Kangermei Industry Development Co. Ltd. to license the manufacturing and distribution rights of Grant's AccuDx line of rapid, point-of-care tests in China and Hong Kong.

The AccuDx products include tests to detect hepatitis B and C, HIV 1 and 2, Dengue fever and heart attack markers Troponin 1 and Myoglobin.

The Los Angeles development-stage company said it has agreed to use GuongDong as an original equipment manufacturer to produce AccuDx products in markets outside of China and Hong Kong for an initial period of four years.

Grant will own an undisclosed percentage of equity in GuongDong, which agrees to pay Grant RMB 1 million upfront to facilitate the technology transfer.

GuongDong Kangermei is a medical-device company located in GuongDong Province, China.

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