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Ventripoint Announces Establishment of a Joint Venture in China, Corporate Development Update, Private Placement and Issuance of Shares for Debt

Ventripoint Diagnostics Ltd. announces an update on its strategy to develop, manufacture and distribute a family of Ventripoint's knowledge-based reconstruction ("KBR") products in the People's Republic of China. As previously announced in the Company's news release of November 3, 2015, the Company entered into an investment, distribution and management agreement (the "Agreement") pursuant to which Shanghai YuTian Medical Investment Management Co. Ltd ("Shanghai YuTian") would, among other milestones, establish a joint venture in China in order to develop, manufacture and distribute KBR products in China. Ventripoint has received from YuTian Technology the first order for components to manufacture VMS units in China. The components are being collected and will be shipped to the new manufacturing facility in China. It is expected that the first VMS units will be built in this factory by the end of the year. This new facility in Ma'anshan will be ISO and FDA-GMP certified as soon as possible. CE Mark is sufficient to allow sales in Hong Kong and other areas in Asia before Chinese FDA approval is secured.

     
   
 
 

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