[Asia Economy Reporter Hyunseok Yoo] RF Bio, a subsidiary of RF Tech, announced on the 15th that it has signed a land sale contract related to a new factory in Wonju Enterprise City in accordance with an investment agreement (MOU) with Gangwon Province and Wonju City.
With this contract, RF Bio plans to complete a production factory for botulinum toxin and hyaluronic acid filler (HA filler) by December 2023 in Industrial Block 8 within Wonju Enterprise City. The land area is 33,058㎡.
As HA filler sales are showing rapid growth and recent European certification (CE) is expected to increase export volumes overseas, RF Bio needs to proactively expand its production facilities. The botulinum toxin factory will be built as a "current Good Manufacturing Practice (cGMP)" production facility, meeting the quality standards required by major advanced countries such as the United States and Europe, making future overseas market entry easier.
An RF Bio official stated, "With this land sale contract as a turning point, the construction of the new botulinum toxin and HA filler factory will be in full swing," adding, "We will ensure the factory construction proceeds as planned through thorough schedule management." They also said, "Along with the factory construction, a series of commercialization processes such as non-clinical and clinical trials of botulinum toxin will be conducted," and added, "Efforts to expand global market share, including acquiring additional local product approvals for fillers overseas, will be carried out simultaneously."
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