Huons Biopharma Licenses Botulinum Toxin Technology to US AquaBit

Including Royalties and Milestones, a 400 Billion KRW Deal Over 10 Years

[Asia Economy Reporter Kim Ji-hee] Huons Global's botulinum toxin subsidiary, Huons Biopharma, announced on the 15th that it has signed a license-out agreement for HUTOX (domestic name: Reztoks) with AquaBit Holdings in the United States. Accordingly, AquaBit will be responsible for local clinical trials, approvals, marketing, and sales, while Huons Biopharma will supply finished HUTOX products manufactured domestically. The contract is valued at a total of 400 billion KRW over 10 years, including royalties and milestones.

AquaBit owns the micro-injector "AquaGold," specialized for botulinum toxin procedures and aesthetic treatments. It has a network of approximately 20,000 medical professionals worldwide, including the United States, and its core management team includes individuals who were responsible for Botox marketing at Allergan.

HUTOX aims to enter the North American market in 2024. It plans to apply for an IND clinical trial with the U.S. Food and Drug Administration (FDA) within this year and complete local clinical trials by 2023. Subsequently, it intends to complete all registration procedures and launch the product. The brand name will also be newly introduced.

Kim Young-mok, CEO of Huons Biopharma, said, "We are very pleased to sign a large-scale license-out agreement with the United States, the largest botulinum toxin market worldwide," adding, "We will mobilize Huons Group's production and quality control capabilities to achieve HUTOX's entry into the North American market."

According to global market research firms The Aesthetic Society and Global Market Insights, the North American botulinum toxin market was estimated at approximately 3.2 billion USD in 2019. The global market is expected to grow annually by 7-9%, reaching about 8.9 billion USD by 2026.

Meanwhile, HUTOX has received approvals in Kazakhstan, Iraq, and Bolivia, and clinical and approval procedures for exports to major overseas countries such as China, Russia, Europe, Latin America, and Brazil are underway. In China, preparations are being made to enter Phase 3 clinical trials, and in Russia, product approval is imminent. Registration procedures for local product approvals are also in progress in Latin American countries such as Brazil and Peru.