BEIJING, March 27, 2023 /PRNewswire/ -- Xcelom Limited, a subsidiary of Berry Genomics, has recently signed a cooperation agreement with Ajlan & Bros Medical Company, an Ajlan & Bros Holding subsidiary, to establish a joint venture that will support Saudi Arabia's "Vision 2030."

The joint venture will focus on genetic testing in the field of reproductive health and carry out in-depth collaboration on a series of projects that leverage Berry Genomics' advanced technology.

Gene technology empowers new markets

The partnership between (Xcelom Limited) and (Ajlan & Bros Medical Company) marks a major step in Berry Genomics' overseas strategy.

As part of the collaboration, the two parties will fully integrate their technology, scientific research, as well as industrial and strategic resources. The joint venture will introduce DNA-based noninvasive prenatal testing (NIPT) and other genetic testing products to the Saudi Arabian and Middle Eastern markets, provide accurate diagnosis and treatment of genetic diseases and improve the quality of local medical services. The two parties will also launch projects such as the creation of local genetic testing laboratories in the future.

In 2016, Saudi Arabia launched "Vision 2030," a strategic framework whose initiatives include the transformation of the country's health sector, such as by expanding the coverage of medical services, improving its quality and efficiency, employing digitization and smart devices and more, creating clear and substantial market potential.

Ajlan Mohammed Alajlan, Deputy Group CEO of Ajlan & Bros Holding, said: "We are very much looking forward to the collaboration with Berry Genomics and bringing China's advanced disease detection and R&D capabilities to Saudi Arabia. We value Berry Genomics' technology and R&D capabilities in professional fields such as gene sequencing and clinical applications. The partnership between the two parties reflects our positive response towards and our implementation of the medical innovation plans included in 'Vision 2030.' We look forward to seeing this joint venture spur the development of the Saudi pharmaceutical and health industries and improve the lives of the Saudi people."

Gao Yang, Chairman and General Manager of Berry Genomics, said: "The establishment of a partnership with a company as strong and capable as Ajlan & Bros Holding is only the first step. Entering overseas markets will encourage us to continue to refine our products and services to suit different groups of people as well as meet a wider range of clinical needs. We hope to safeguard the health of more people around the world with high-quality genetic testing products."

About Berry Genomics

Berry Genomics has been listed on A-share market in China since 2017 under the stock code:000710. Berry Genomics is a leading company in clinical genomics and life science in China. It is dedicated to research, development and commercialization of genetic test technologies in clinical applications.

Berry Genomics aims to assist accurate diagnosis of diseases throughout the full human life circle, and to improve human health.As a company with strong R&D capability, Berry Genomics pioneered the first NGS-based genetic test, NIPT,in China back in 2010. The company currently provides NGS-based tests for many genetic diseases and cancers from preconception to adulthood.

Berry Genomics is also leading in the use of Third-Generation Sequencing technology in both clinical field and scientific study. Now it has commercialized several products to screen mono genetic diseases in China.

Berry Genomics has around 1500 employees dedicating to developing products and providing services for over 7000 organizations and facilities home and abroad, including hospitals, research institutions,universities and corporations.

About Ajlan & Bros Holding

Ajlan & Bros Holding (hereafter referred to as "the Group"), owned by the Alajlan family, is a global diversified conglomerate with multi-channel business sectors covering technology, financial services, manufacturing, healthcare provision, education, gaming, metal & mining, hospitality & tourism, logistics, etc. The Group employs over 15,000 staff in more than 25 countries and regions, across 75 companies. The Alajlan family, one of the most well-known family businesses in the Middle East, ranks top 10 in Saudi Arabia in 2022 Forbes' 'Top 100 Arab Family Businesses'.

The Alajlan family created its investment portfolio in China 35 years ago. With 4 office established in Beijing, Shanghai, Shenzhen and Hong Kong since 2017. As the largest Saudi private sector conglomerate in China, with strong capital and financing capabilities, the Group uses its capital to make strong diversified investments, provide abundant local market resources and forge deep government relations.

Currently, the Kingdom of Saudi Arabia is in the process of economic strategic transformations and upgrades. As the gateway to the MENA region, the Group hopes to make the best use of its resources to become a leader in industries that are aligned with the Kingdom's Vision 2030, committed to seeking qualified cooperation and building strong and long-term relationships with Chinese counterparties, to jointly seize the opportunities in the Kingdom and mutually benefit from the development.

Source: Berry Genomics Related Stocks: Shenzhen:000710