Curiox Biosystems, a Korean cell analysis process automation platform company, announced Thursday that it has signed a contract with Hunan Deshengyuan Biotechnology, a Chinese  biomedical device distributor, to supply 70 units of its next-generation automated cell washing product, AUTO-CX1000, over three years.

The supply contract is valued at $7 million, and 10 sets of AUTO-CX1000 will be delivered to Hunan Deshengyuan Biotechnology this year, 20 sets in the second year, and 40 sets in the third year.

Curiox Biosystems, listed on Kosdaq, will provide its Chinese subsidiary, Curiox Biosystems China, with the necessary components to produce the AUTO-CX1000, and assemble the AUTO-CX1000 in mainland China for delivery to Hunan Deshengyuan Biotechnology.

Hunan Deshengyuan Biotechnology specializes in providing biomedical devices to the Chinese clinical market, and recently, it started to expand its business into China's cell analysis market.

In August, Curiox Biosystems launched the AUTO-CX1000, co-developed with Revvity, a global life sciences and diagnostics company. AUTO-CX1000 is an automated cell washing solution that combines Revvity's automated liquid transfer workstation with Curiox Biosystems's automated cell sample preparation technology used in disease testing, drug testing, and life science research.

"With this supply agreement, we have set the stage for our full-scale entry into the clinical market. We will do our best to meet the local needs of the clinical market in China and contribute to solving health problems with this automated solution," said Kim Nam-yong, CEO of Curiox Biosystems.

Meanwhile, Curiox Biosystemsx expects to increase its presence and influence in the Chinese market. According to global market research firm Frost&Sullivan, the Chinese cell gene therapy (CGT) market is expected to grow to $2.59 billion by 2025, with a compound annual growth rate of 276 percent.