BioPlus Signs Strategic Business Cooperation Agreement with HwibioMed

[Asia Economy Reporter Hyungsoo Park] BioPlus announced on the 3rd that it has signed a strategic business cooperation agreement with HuaibioMed, a drug delivery system specialized company.

BioPlus and HuaibioMed have agreed to join forces to improve the stability and duration of drug efficacy by combining BioPlus's secured or under-research biopharmaceuticals with biocompatible polymer formulation technology. They will collaborate throughout all processes from distribution to sales of existing launched products or newly developed products. The partnership integrates HuaibioMed's biomaterials and drug delivery system R&D capabilities with BioPlus's formulation development technology and mass production technology.

BioPlus and HuaibioMed expect to expand market entry not only for existing products but also for jointly developed products.

BioPlus is jointly developing various biological formulation drug materials with its subsidiary UbiProtein. They are developing formulations such as sustained-release injectables, oral drugs, and transdermal drugs.

HuaibioMed was founded by Professor Han Segwang of the Department of Materials Science and Engineering at Pohang University of Science and Technology. It is a biopharmaceutical company specializing in plastic and medical materials, biopharmaceutical drug delivery systems, regenerative medicine for tissue engineering, and the development of diagnostic and therapeutic smart contact lenses. Last year, it was selected as one of the 1000 National Representatives of Innovative Companies.

BioPlus Chairman Jung Hyungkyu said, "We have long developed drug delivery systems using biopolymers and possess technology for developing useful materials," adding, "The two companies, each with experience in mass production and development of useful drug materials and pharmaceutical products, will cooperate to create high synergy effects."

He added, "We expect to build new markets by utilizing the sales network and HuaibioMed's research capabilities."