Gene Bio Medical (GBM), a leading Canadian biotechnology company specializing in molecular diagnostics, has decided to invest $10 million - 20 million in a large-scale plant producing high-quality diagnostic test kits in south-central Binh Dinh province, according to the company’s executives.

The company recently signed a Memorandum of Understanding (MOU) with Binh Dinh Pharmaceutical - Medical Equipment Joint Stock Company (BIDIPHAR) to establish the joint venture to manufacture the test kits, using Canadian technology.

The products will mainly serve Vietnam, Southeast Asia, the Middle East, and North America.

The information was revealed during a recent meeting between BInh DInh provincial authorities and representatives from the Consulate General of Canada in Ho Chi Minh City, the British Columbia Office in Vietnam, and key executives from Gene Bio Medical and BIDIPHAR.