GC MS, a subsidiary of GC Biopharma's institutional sector for in vitro diagnostics, said on the 24th that it signed a memorandum of understanding (MOU) for research and development (R&D) cooperation with the Fiocruz Foundation (Fiocruz), a research institute under Brazil's Ministry of Health, at the Korea-Brazil Business Forum held on the occasion of the Brazilian president's visit to Korea.
Under the agreement, the two institutions agreed to build a strategic partnership for joint development of reagents and technology transfer in immunology and biochemistry diagnostics, establishing point-of-care testing (POCT) solutions, and conducting joint research to create new products.
The Fiocruz Foundation is a nonprofit state institution under Brazil's Ministry of Health and is regarded as a leading health science and technology research institute in South America and a world-class public health research institution. It works to strengthen the public health system and promote public health by disseminating medical knowledge and technology in Brazil, and it has influence across public health policy making and the government procurement market.
A GC MS official said, "We have partnered with the Fiocruz Foundation to expand the market for POCT products in Latin America," adding, "It is significant that we signed the MOU on the occasion of the Brazilian president's visit to Korea."