MP Daesan "Chinese Corporation Signs Exclusive License MOU for US Inhalable COVID-19 Blocker 'Kobixil-V'"

[Asia Economy Reporter Hyunseok Yoo] MP Daesan announced on the 25th that its Chinese subsidiary, Mister Pizza Jin-eung Chan-eum Management (Shanghai) Co., Ltd., has signed a memorandum of understanding with Salvacion Co., Ltd. for the transfer of exclusive distribution rights of Covixyl-V, a nasal inhalation-type COVID-19 blocker, in China.

Covixyl-V is a nasal inhalation-type COVID-19 blocker developed by Salvacion USA. It is currently under review by the FDA for Emergency Use Authorization (EUA) with support from the U.S. National Cancer Institute. Based on research results showing that Covixyl-V eliminates 99.9% of the COVID-19 virus, Salvacion has applied for approval for use from the FDA and the European Medicines Agency (EMA).

Since the raw materials of Covixyl-V are food additive compositions, it is expected that once sales approval is granted, it will be available for general sale at convenience stores and other outlets. As Covixyl-G previously received FDA approval, the company believes that sales approval for Covixyl-V will proceed smoothly.

The agreement between MP Daesan’s Chinese corporation and Salvacion grants exclusive sales rights for Covixyl throughout China. Mister Pizza Shanghai is currently negotiating with Jianhui Information Technology Co., Ltd. to develop an automated system for online and offline pharmacy sales to secure a sales system that can cover all of China.

Jianhui Information Technology is a medical solution specialist company listed on the Shanghai Stock Exchange in 2020, providing medical logistics automation, informatization, intelligence, and online medical solutions. It operates a business network in 29 regions of China and supplies automated systems to over 600 general hospitals and more than 30,000 affiliated pharmacies, occupying 80% of the market in China's first-tier cities.

Mister Pizza Shanghai, officially Mister Pizza Jin-eung Chan-eum Management Co., Ltd., was established in 1992 as the first foreign-invested enterprise approved by Nanjing City. The Chinese conglomerate Jin-eung Commercial Trading Group, with annual sales of approximately 5 trillion KRW, holds a 41.6% stake.

Jin-eung Commercial Trading Group’s main businesses include high-quality commercial land development and comprehensive urban services. Additionally, Jin-eung is involved in real estate development, commercial and trade distribution, hotel operations, real estate management services, automobile marketing, healthcare, and education sectors. Last year, Jin-eung Group recorded sales of about 5 trillion KRW and employed over 40,000 staff.

They operate 31 department stores and shopping malls and 21 large supermarkets locally in China, and are currently pursuing mergers and acquisitions of over 1,500 Seven-Eleven stores operating within Jiangsu Province.