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Shineco Inc. ((", Shineco", or the ", Company", , NASDAQ:SISI), a manufacturer of induced pluripotent stem cell (iPSC) technology platforms, today announced the establishment of a Biological Cell Digital Business Division (the "Division"), and the appointment of Mr. Lin Hongguang as General Manager, to advance the integration of its biological cell assets and blockchain technology. Through a new architecture of blockchain-based cell assets, Shineco aims to build a vertical ecosystem within the biological cell sector, accelerate the global distribution of biological cell products and boost global sales.
The Division is expected to use blockchain technology to build an efficient ecosystem for managing and leveraging biological cell assets. Its primary goals are (1) to promote the standardized management of biological cell assets; to establish an induced pluripotent stem cells ("IPSC") cell bank; to achieve blockchain-linking; to establish compliance frameworks so that biological cell assets can be clearly traced and securely confirmed; and (2) to develop supporting industry blockchain tools such as equity transfer mechanisms to address the problem of the low efficiency of cell asset circulation.
The work to be undertaken by the Division is anticipated to allow medical and research institutions to allocate resources more flexibly, and it is contemplated to lower the threshold for users to obtain services through flexible payments and other methods. In addition, the Company believes it will streamline the connection between service interfaces and storage appointments, create cross-institutional research collaborations, enhance health data management and introduce artificial intelligence ("AI") tools to optimize the service experience. A key goal of this new business initiative is to make cell technology services more accessible to global users.
Posted In: SISI
