BRIDGETECH, WJP TO COLLABORATE ON DRUG-DISTRIBUTION IN CHINA

China- and U.S.-based Biotech Holdings International and the Wu Jieping Medical Foundation (WJP), a nonprofit organization that operates under the administration of the Chinese Ministry of Health and works with 300 of China's hospitals, have formed a new entity that will distribute Bridgetech's products throughout China. The agreement has an initial term of 10 years, and could potentially include all of the company's diagnostic and therapeutic products.

"As the … foundation is the recognized leader in the dissemination of the latest and most trusted healthcare information in China," said Michael Chermak, chairman and CEO of Bridgetech, "it follows that they would become a leading source of the latest diagnostics and therapeutics," he said. "WJP wants to further improve the healthcare environment in China by ensuring that the leading facilities in China have access to these new emerging … products."

Bridgetech has focused on bringing emerging drugs, devices and diagnostics to China in recent years, particularly in the fields of oncology and women's health.