Cuprina Holdings (Cayman) Ltd. (CUPR) announced two strategic developments aimed at expanding its footprint in the Middle East and North Africa or MENA and Gulf Cooperation Council or GCC regions.
First, its 49 percent-owned associate, Cuprina MENA Co. Ltd, has completed setup of a new laboratory in Saudi Arabia capable of manufacturing MEDIFLY, the company's maggot debridement therapy for treating chronic wounds.
The lab will serve as a regional production and supply hub for MEDIFLY across the MENA region.
Regulatory approval efforts, including Saudi FDA licensing and ISO 13485 certification, are now underway.
Separately, Cuprina MENA has secured exclusive rights from Biopharm UK Ltd, the global leader in medicinal leeches, to market and distribute medicinal leeches throughout the GCC countries.
Medicinal leeches are used in reconstructive and microsurgery, to treat venous congestion, osteoarthritis symptoms, and in veterinary applications, including for conditions like polycythaemia vera.
"These achievements will help expand our market presence and potentially generate significant new revenue streams in the MENA and GCC regions," said CEO David Quek.
Cuprina specializes in biomedical products for chronic wound care, infertility, and cosmeceuticals using natural source materials and adheres to international medical device standards.
Currently, CUPR is trading at $5.10, up by 4.08 percent on the Nasdaq.
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