Hangzhou, China, Nov. 04, 2025 (GLOBE NEWSWIRE) -- WORK Medical Technology Group LTD (Nasdaq: WOK) (“WORK Medical” or the “Company”), a supplier of medical devices in China, through its subsidiary, Work (Hangzhou) Medical Treatment Equipment Co., Ltd. and its subsidiaries in China, today is pleased to announce that its subsidiary, Neologics Bioscience Inc. (“Neologics”), has entered into a key service agreement (the “Agreement”) with GemPharmatech Corporation (“GemPharmatech”), a Delaware-based leading contract research organization. This move is not only a significant milestone in WORK Medical’s global expansion strategy and business diversification initiatives, but also signals a pivotal shift in the company’s strategy—moving efficiently from capital injection to research and development (R&D) execution.
Pursuant to the Agreement, Neologics agrees to serve as an independent contractor to provide specified testing services for GemPharmatech. These services will cover the entire process from material preparation, serum titer analysis, hybridoma fusion and screening, antibody sequencing and production, to in vitro validation for several purified recombinant antibodies, as requested by GemPharmatech during the term of the Agreement. As consideration, GemPharmatech has agreed to pay US$114,000 in total to Neologisc for the services rendered under the work orders associated with the Agreement.
Neologics is a medical technology company specializing in R&D services. Founded in 2021, it operates a laboratory and R&D center in San Diego, California. The company focuses on R&D collaborations with universities, hospitals, research institutes, and biotechnology firms, enabling shared access to animal research facilities, experimental laboratories, and human cell and tissue resources. Positioned at the intersection of artificial intelligence and medical science, Neologics aims to develop systematic solutions for drug screening, target discovery, and preclinical validation through an independent R&D platform that integrates multi-dimensional biological data resources. On October 21, 2025, WORK Medical publicly announced its investment in Neologics for $1 million. As of October 29, 2025, Neologics has completed the shareholder registration process in Delaware, confirming WORK Medical’s 10% equity interest in Neologics.
GemPharmatech provides genetically engineered mouse models and preclinical research services to the global scientific community. The company specializes in developing advanced animal models using cutting-edge gene-editing technologies and maintains an extensive library of knockout (KO) and conditional knockout (cKO) mice, humanized, immunodeficient, and germ-free mice. GemPharmatech’s comprehensive suite of services includes mouse model customization, pharmacology studies, drug efficacy evaluation, mouse phenotyping, gene editing, cryopreservation, and customized breeding.
Mr. Wu Shuang, Chief Executive Officer and Chairman of the Board of Directors of WORK Medical, commented: “We are delighted to establish this partnership with GemPharmatech, marking a promising beginning following our equity investment in Neologics. We expect this collaboration to not only accelerate Neologics’ business development, but believe it will also reinforce WORK Medical’s strategic diversification and strengthen our connections with global industry peers. We anticipate that our deliberate strategy of diversification and global integration will successfully leverage our deep industry expertise. This agreement is expected to accelerate our transformation journey, driving robust long-term growth for WORK Medical while unlocking value for all our stakeholders.”
About WORK Medical Technology Group LTD
WORK Medical Technology Group LTD, through its subsidiary, Work (Hangzhou) Medical Treatment Equipment Co., Ltd. and its subsidiaries in China, is a supplier of medical devices that develops and manufactures Class I and II medical devices and sells Class I and II disposable medical devices through operating subsidiaries in China. The Company has a diverse product portfolio comprising 21 products, including customized and multifunctional masks and other medical consumables. All the products have been sold in 34 provincial-level administrative regions in China, with 15 of them sold in more than 30 countries worldwide. The Company has received a number of quality-related manufacturing designations and has registered 17 products with the U.S. Food and Drug Administration allowing their products to enter the U.S. market. For more information, please visit the Company’s website: https://www.workmedtech.com/corporate.
Forward-Looking Statements
This press release contains forward-looking statements, including statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These statements may be identified by words such as “aims,” “anticipates,” “believes,” “could,” “estimates,” “expects,” “forecasts,” “goal,” “intends,” “may,” “plans,” “possible,” “potential,” “seeks,” “will,” and variations of these words or similar expressions that are intended to identify forward-looking statements. Any such statements in this press release that are not statements of historical fact may be deemed to be forward-looking statements. Any forward-looking statements in this press release are based on the Company’s current expectations, estimates and projections only as of the date of this release and are subject to a number of risks and uncertainties that could cause actual results to differ materially and adversely from those set forth in or implied by such forward-looking statements. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and the Company cautions investors that actual results may differ materially from the anticipated results and encourages investors to review other factors that may affect its future results set forth in the Company’s annual report on Form 20-F and other documents filed by the Company with the U.S. Securities and Exchange Commission. The Company explicitly disclaims any obligation to update any forward-looking statements except to the extent required by law.
For more information, please contact:
WORK Medical Technology Group LTD
Investor Relations Department
Email: ir@workmedtech.com
Ascent Investor Relations LLC
Tina Xiao
Phone: +1-646-932-7242
Email: investors@ascent-ir.com
