OSR Holdings Inc. (NASDAQ: OSRH) announced that its subsidiary Woori IO Co. has entered into a non-disclosure agreement with Sinopharm Group Beijing Huahong, a unit of China's state-owned pharmaceutical distribution enterprise.

The NDA allows both companies to exchange confidential information regarding Woori IO's noninvasive near-infrared glucose monitoring technology. The agreement establishes a framework for evaluating potential regulatory, clinical, and commercial pathways in China.

Sinopharm Group reported revenue of approximately $81 billion in 2024 and operates China's largest pharmaceutical and medical device distribution network. The company will assess Woori IO's needle-free continuous glucose monitoring technology, which uses near-infrared optical sensing.

China's diabetes device market is projected to exceed $12 billion by 2032, according to Research and Markets. The country has more than 140 million people living with diabetes.

"China is a highly compelling market, given its large and growing diabetes population and increasing adoption of advanced glucose monitoring technologies," said Peter Hwang, CEO of OSR Holdings. "Our engagement with Sinopharm reflects the strategic importance of the China market and the potential role that established national distribution platforms may play in enabling future commercialization."

Woori IO CEO Sunkie Park said the NDA allows the company to evaluate potential regulatory and commercial pathways in China while continuing discussions with partners in other regions. The interactions could help shape future clinical development programs, including potential global multicenter trials.

OSR Holdings stated it intends to pursue strategic partnerships across major international markets as it advances development and regulatory strategy for the glucose monitoring technology.