en.Wedoany.com Reported - South Korean biotech company Biosolution is introducing its flagship autologous chondrocyte therapy, Cartilife, into the Chinese market. The company announced on August 13 that it has signed a final master partnership contract with China Hainan Boao International Hospital regarding the prescription and surgical administration of Cartilife.

China Hainan Boao International Hospital, located in the Boao Lecheng International Medical Tourism Pilot Zone in Hainan, China, is a tertiary general hospital that has obtained sales approval from the local drug regulatory authority and can immediately perform Cartilife procedures. Leveraging its in-house GMP facilities, the hospital can supply and administer Cartilife treatment to 1,000 patients annually.

The registered price of Cartilife in China is 150,000 RMB per treatment, equivalent to approximately 31.5 million KRW (24,230.77 USD). In comparison, the average price of similar products such as MACI in the U.S. market exceeds $60,000 (over 85 million KRW, approximately 65,384.62 USD), giving Cartilife a competitive pricing advantage. Biosolution plans to leverage this pricing strategy to achieve higher profit margins than in the domestic Korean market while rapidly entering China's high-end market.

Biosolution CEO Lee Jung-sun stated that this partnership marks a turning point, signifying the true beginning of the company's revenue generation in China; the next step will involve advancing further negotiations with multiple large hospitals in China to solidify the company's position in the global biotech market.

Leveraging the Hainan medical special zone policies and the hospital's in-house GMP infrastructure, Biosolution has been able to overcome China's licensing and local production barriers.