(Yicai Global) Jan. 24 -- Chinese pharmaceutical firm Jiuzhitang has received the go-ahead from authorities in Kazakhstan to proceed with sales of a new stem cell treatment in the Central Asian country.

Jiuzhitang plans to establish an international medical center in the country through a joint venture company, the Changsha-based firm said in a statement, adding that the therapy will be used to treat heart attacks.

The treatment was developed by Jiuzhitang's Stemedica Cell Technologies unit and represents the first time that the firm's stem cell products have received a sales approval in Kazakhstan.  
The development will boost the company's market expansion and performance, the company said without confirming sales targets for the market.

Jiuzhitang's investment fund will partner local firm Altaco XXI for the establishment of a JV international medical center focused on stem cell drug applications and clinical research.

The Kazakhstan partner will apply for the necessary medical licenses for the facility as well as recruitment while Jiuzhitang will recommend Chinese patients for treatment there.
Jiuzhitang's investment fund acquired a 51 percent stake in San Diego-based Stemedica for USD70 million last May. The two sides inked a cooperation agreement in September to set up a commercial-grade stem cell production base in Beijing within three to five years.