DONGGUAN, China, Feb. 2, 2024 -- On February 1, 2024, Fapon, a global leading life science company, and Bio Farma, a state-owned pharmaceutical holding company in Indonesia specializing in vaccines, life science products, and other pharmaceuticals, signed a memorandum of understanding to formalize their commitment to strengthening medical innovations in Indonesia. In doing so, the memorandum will further solidify Fapon's global ecosystem for diagnostics and medical treatment. Jielun ZHU, Chief Financial Officer and Chief Investment Officer of Fapon, I.G.N. Suharta Wijaya, Finance and Risk Management Director of Bio Farma and Sri Harsi Teteki, Medical, Institutional and Governance Relations Director of Bio Farma attended the official signing ceremony.

The partnership between Fapon and Bio Farma focuses on developing biological medicines and technologies, medical devices, and IVD solutions with an emphasis on healthcare localization. The goal is to foster a synergistic collaboration between the two companies, drive medical innovation and technology transfer, and boost the development of healthcare industry in Indonesia.

During the official signing ceremony, Sri Harsi Teteki, Medical, Institutional and Governance Relations Director of Bio Farma, stated that the partnership with Fapon will leverage the strengths of both companies to innovate medical technologies and ultimately contribute to the enhancement of healthcare services in the country.

Jielun ZHU, Chief Financial Officer and Chief Investment Officer of Fapon, reflected that Fapon is dedicated to deploying its expertise and technologies to work with Bio Farma, and advancing medical innovations to address the healthcare needs in Indonesia.

With more than 20 years of experience in the medical industry, Fapon has earned the trust of over 2500 business partners across 68 countries worldwide. Rooted in the Indonesian market for years, Fapon has demonstrated its commitment to supporting the local healthcare development by establishing a local office and forging strategic partnerships with local companies.

Looking ahead, Fapon is committed to strengthening its cooperation with Bio Farma to drive the development of medical innovations, thereby advancing the quality of healthcare services in Indonesia.

About Fapon

Fapon is a global leading life sciences company dedicated to providing integrated solutions and services for diagnostics, biopharma and biotherapy. Integrating a one-stop solution on raw materials, reagents and innovative open instrument platforms, the Company has grown into a leading supplier in in-vitro diagnostics. Fapon boasts advanced innovations in therapeutics technologies and AI algorithm platforms with data insights that contribute to a better and healthier world. Supported by its strong global R&D, manufacturing, sales and service network, Fapon's products have established presence in 68 countries and regions, serving more than 2,500 business partners worldwide.

Follow us on LinkedIn (Fapon) or visit our website https://en.faponbiotech.com/

About Bio Farma

Bio Farma is a state-owned pharmaceutical holding company in Indonesia specializing in vaccines, life science products, and other pharmaceuticals. As a world-class life science company, Bio Farma has global competitiveness to provide and develop international standard life science products to improve the quality of life. Bio Farma has through the years grown into a life science company of international recognition producing and distributing more than 3.2 billion doses of vaccines per year. Bio Farma is by far the largest vaccine manufacturer in Southeast Asia.

Bio Farma plays an important role in establishing a healthy nation in which its existence would be maintained for generations to come. With its philosophy of "Dedicated to Improving Quality of Life", Bio Farma stands firm in devoting its efforts to Global Health Security.

In early 2020, a state-owned pharmaceutical holding company was established with Bio Farma as its parent company. The establishment of this holding company is aimed to strengthen self-reliance of the national pharmaceutical industry, and also to increase the availability of products supporting the pharmaceutical ecosystem.

Follow us on social media @biofarmaid or visit our website www.biofarma.co.id