Medytox announced on the 12th that its affiliate Newmecco's botulinum toxin product, Newlux, has been approved by the Peruvian Medicines Agency. Newlux is a toxin formulation that enhances production yield and quality. The manufacturing process excludes animal-derived ingredients, blocking the possibility of allergic reactions caused by animal proteins. As the population ages in Peru, the demand for anti-aging products has increased, and young people's interest in cosmetic procedures has grown due to the spread of social media, leading to growth in the toxin market. Previously, Newlux made its entry into the Latin American market after signing a large-scale export contract with Brazilian pharmaceutical company Blau.
Artificial intelligence (AI) drug development corporation Shintec Bio announced on the 12th that it has signed a single sales supply contract worth approximately 1 billion won with a U.S. Nasdaq-listed company. The name of the contracting client has not been disclosed. According to the company, this contract follows a single master services agreement (MSA) regarding effective substance discovery services. The client is a biotech company based in Boston, U.S., that develops target protein degradation (TPD) technologies that selectively break down disease-causing proteins and has a market capitalization of 3 trillion won on the Nasdaq. With this contract, Shintec Bio will identify ligands (warheads) binding to target proteins through its self-developed AI drug platform, DeepMatcher.
Isu Abbies announced on the 12th that it has signed an exclusive licensing and supply agreement for the rare disease treatment Abcertin with Tabuk Pharmaceuticals Manufacturing Company, a major pharmaceutical company in Saudi Arabia. The contract was signed at the Riyadh Front Expo Centre in Saudi Arabia during the CPHI Middle East 2024 international pharmaceutical and biotech fair.
Bio corporation DxVx announced on the 12th that it has signed a contract to introduce the cancer vaccine OVM-200 from Oxford Vacmedics (OVM) in the U.K. OVM is a spin-off from the University of Oxford, developing cancer treatments. DxVx owns approximately 41% equity in OVM. According to the company, OVM-200 is a therapeutic vaccine that enters the body to eliminate cancer cells, and antitumor effects were also observed in animal tests. DxVx explained, "Clinical trials for OVM-200 will be conducted outside of the U.K." DxVx holds research and development and commercialization rights for OVM-200 in South Korea, China, and India.
GC Nexiva held a fair trade academy for its employees. Conducted at its headquarters in Yongin, Gyeonggi Province, the academy covered topics frequently encountered by employees, such as expenditure reports, the sales agency reporting system, and pharmaceutical company rebate cases. GC Nexiva CEO Heo Eun-cheol noted, "We will further strengthen our fair and transparent corporate culture."
Dongwha Pharmaceutical announced the renewal of its 'Buchae Table Ssanghwa' to mark the 22nd anniversary of its launch, adding three ingredients beneficial for bronchial health: pear, bellflower, and honey, and renaming it 'Buchae Table Pear∙Bellflower Ssanghwa.'
Jaseng Korean Medicine Hospital has signed a memorandum of understanding (MOU) for comprehensive cooperation with the Korean Certified Labor Society. The Korean Certified Labor Society has pledged to provide labor consultations and legal support regarding compliance with labor relations laws for employees of Jaseng Korean Medicine Hospital. Jaseng Korean Medicine Hospital plans to offer musculoskeletal health lectures and medical support for disease prevention to employees and families of members affiliated with the Korean Certified Labor Society. Future plans also include support and volunteer activity for vulnerable workers.