GDD signs a strategic cooperation agreement with Sinotech Tianze Biotech (Guangzhou) Co Ltd on Jan 11. [Photo/Guangzhou Daily]

Guangzhou Development District (GDD) signed a strategic cooperation agreement with Sinotech Tianze Biotech (Guangzhou) Co Ltd on Jan 11 to join hands in promoting the development of high-end biomaterials and medical devices.

Sinotech Tianze Biotech (Guangzhou) Co Ltd was set up in GDD by Arthur Coury, former chairman of the Society for Biomaterials, as well as Wang Hao, doctor at Massachusetts Institute of Technology and his research team. A Sino-US research institute for advanced biomaterials was also established.

The research institute will focus on research and development along with the application of the new generation of bionic biomaterials, while the company will develop and industrialize the research outcomes of the institute.

In addition, the company will undertake a project, led by Arthur Coury, on basic bionic biomaterials, which can be widely applied to various medical devices, particularly interventional medical equipment.

The technology is expected to be released on the market within two years, reducing the country's import dependence, and is expected to be launched on the science and technology innovation board. The annual turnover of the technology in the upcoming five years will reach 3 billion yuan ($434.16 million).

A person in charge of the company pointed out during the signing ceremony that GDD, having complete infrastructure and abundant technological companies, is an important economic growth hub for the Guangdong-Hong Kong-Macao Greater Bay Area and the whole of China, suitable as it is for the settling and development of technological projects and high-caliber talents.