Stempeutics signed a memorandum of understanding (MoU) with Hoang Lam Pharma Vietnam in New Delhi, in the august presence of Prime Minister of Vietnam Mr Pham Minh Chinh for commercialization of the cell therapy product Stempeucel® for the Vietnamese market. First made in India cell therapy product will be available soon (after DAV approval) for treating unmet medical needs in Vietnam.

The Hoang Lam company will provide the necessary support to facilitate regulatory approvals and clinical trials of Stempeutics' stem cell products in Vietnam. The Vietnamese Ministry of Health has directed the firm to implement the MoU's provisions for therapeutic and cosmetic applications.

Headquartered in Bangalore, Karnataka, South India, Stempeutics is known for having the first globally licenced stem cell product for treating symptoms related to diabetes, joint issues, and more. In India, the company is committed to providing safe, effective, and affordable stem cell-based products.

The two companies will also work together to establish a laboratory in Vietnam. Research products will be tested in some selected tertiary hospitals.