Medlab Clinical Ltd. update shareholders on the signing of an agreement with YesHealth (Malaysia) for exclusive distribution rights for the Medlab branded nutraceutical (VMS) lines in Malaysia, Vietnam, and (Non-Exclusive) Singapore. The binding 5-year exclusive agreement includes 12 Medlab nutraceuticals, inclusive of one NanoCelle nutraceutical formulation into Malaysia and Vietnam (as exclusive territories) and Singapore (non-exclusive territory). Under the Agreement, Medlab will supply nutraceuticals on a cost-plus basis as well as receive royalties on net sales.

YesHealth will: become the official distributor of NanoCelle and other Nutraceutical products for Medlab in Malaysia and Vietnam, as well as a non-exclusive distributor in Singapore; be responsible for the registration of the products in their defined territories, and all sales, marketing, and logistics; target pharmacy banners and integrative clinics in Malaysia and Vietnam, with a distribution goal of 2500 outlets distributing Medlab Branded Nutraceuticals; register and release ten nutraceutical products in Year 1 and will attempt to introduce additional items in Year 2.