Continuous Updating and Upgrading
BIONET is certainly one of the minority in the bio-industry that offers a diverse cell banking services including cord blood, cord mesenchymal stem cell, dental pulp stem cell and peripheral blood. The core laboratories concentrate on research of application of stem cell from various sources, and moves on exploring undiscovered applications of stem cell aiming to improve quality of human life. We believe that creativity and exploration form fundamental elements of our business strategy, and accordingly we have successfully developed eight pioneering products of bio-industry in Taiwan. Stem cell related products include banking of cord blood hematopietic stem cell, cord mesenchymal stem cell, stem cell revitalizer for bio-cosmetology, and dental pulp stem cell. Genetic area mainly focuses either on prenatal genetic testing such as for Spinal Muscular Atrophy (SMA), or on pre-implantation genetic diagnosis (PGD). In short, the business strategy of BIONET is to keep developing advanced products in order to refine niche in the industry.
Dominant Market Channels
The medical care system is generally considered the most essential asset to maintain for all cord blood banking business. BIONET has been very successful at exploring as well as nurturing market channels, on both distribution and end user aspects. Furthermore, the strategic planning was optimized by maximizing awareness and crossing value at all existing channels. For example, while the business team successfully utilized channels generated with cord blood banking service, the marketing team synchronously promoted prenatal genetic testing for SMA during the first two years of product initiation. The result was a rapid expansion of the entire genetic business at 50% penetration rate. Meanwhile, BIONET may also identify potential customers for CB or other stem cell preservation services from the population taking prenatal genetic testing therefore generate multi-directional business flow combining existing channels. On top of which, each channel platform is capable of expansion within related motif such as introducing prenatal testing service for Down Syndrome to channels of SMA testing. It helps BIONET effectively create newly developed products in connection with already-mature business branches.
In 2006, BIONET received one of the highest honors for industrial participants in Taiwan, as being awarded the Industry Elite prize/category of technical service group, by Industrial Development Bureau, Ministry of Economic Affairs. BIONET was recognized for its laborious efforts and proven to be the only firm in stem-cell industry with such achievement. Not much later in 2007 when the Executive Yuan of Taiwan, ROC hosted a specialized competition for the local bio-industry, again BIONET received the silver medal of the first National Bio-industry Outstanding Accomplishment Contest by Science and Technology Advisory Group. Recently in 2008, BIONET was proudly selected by Biotechnology and Pharmaceutical Industries Program Office, Ministry of Ecnomic Affairs, as one of the top three candidates enrolled in annual strategic promotion plan.
Confidence of IPO Firms
The cord blood bank of BIONET offers 20-year contract guarantee to every client. For consumer’s full protection, it is wise to choose public listed companies with completion of IPO obligated to provide financial statement regularly for monitoring, and BIONET is indeed the only qualified firm of stem-cell industry in Taiwan. We at BIONET are determined to provide the best warrant possible to all our clients by demonstrating persistent stability with consistent growth of business, and we put tremendous efforts to ensure our trustworthiness in offering ever-lasting cell banking service.
In 2012, BIONET Group's (TPO:1784) subsidiary, Genetics Generation Advancement Corp. (GGA Corp.), made its initial public offering (TPO:4160) as Taiwan's first publicly traded company specialized in both genetic testing and scientific informatics, further set a significant milestone on the way to becoming the largest enterprise of cell therapy and genetic engineering in Taiwan.
BIONET was the first cord blood bank in Taiwan to insure the entire cell preservation process, and consign all the storage fees to an independent trust fund. In any circumstance of accident, all substantial losses will be covered by full refund, in addition to a free-of-charge CB unit throughout searching globally or an alternative compensation of USD 30,000.
As to the storage fees consigned to a trust fund, it is managed by an independent finance institute. BIONET is required to fulfill its obligation of complete cell preservation to all clients before it may legally claim the revenue generated accordingly. The operation is literally supervised by the finance institute as it is entitled to transfer the trust fund for the purpose of maintaining each and every client’s best of interest should the operation is under risk.