Dubai Science Park Delegation Visits Korea
An on-site inspection by a Dubai company was conducted for Medytox's overseas local botulinum toxin (BTX) finished product factory construction.
A delegation from Dubai Science Park (DSP), including CEO Marwan Abdulaziz Janahi (second from left) and officials, conducted an on-site inspection at the Medytox Osong factory on the 24th. [Photo by Medytox]
On the 27th, Medytox announced that a high-level delegation led by Dubai Science Park (DSP), under Dubai state-owned company TECOM Group, conducted an on-site inspection of Medytox Osong Plants 2 and 3 on the 23rd and 24th. This visit was a follow-up measure to the memorandum of understanding (MOU) signed last month regarding the construction of the toxin finished product factory.
The delegation conducted the inspection at Medytox Plant 2. They then visited the recently commissioned Plant 3, equipped with state-of-the-art facilities, to check the toxin and filler production equipment.
Jung Hyun-ho, CEO of Medytox, said, "We bear a heavy responsibility to achieve the goal of establishing the first overseas toxin production base in Korea," adding, "Following the UAE tour, discussions are accelerating, and we will create a model success case of K-bio to contribute to national interests."
Marwan Abdulaziz Janahi, CEO of DSP, stated, "Medytox's excellent research and development (R&D) capabilities and know-how will positively contribute to the growth of Dubai's bioindustry based on Dubai's R&D strategy emphasizing innovation and manufacturing," and added, "We hope that the establishment of Medytox's DSP factory will strengthen the science-centered bio-ecosystem and continuously develop cooperative relations between the two countries."
Additionally, both parties met with Seo Kyung-won, President of the Ministry of Food and Drug Safety Evaluation Institute, and Shin Jun-su, Director of the Bio-Pharmaceutical Division at the Ministry of Food and Drug Safety, to discuss support and fostering plans for Korean companies entering the Middle East and policy proposals to strengthen cooperation in the bio sector. Following last month's presidential tour, the Ministry of Food and Drug Safety is pursuing measures to strengthen cooperation, including inviting UAE regulatory authorities to Korea, to enhance health and medical cooperation.
Director Shin said, "We will actively seek support at the regulatory agency level for Korean pharmaceuticals to enter the UAE," and added, "We will promptly promote bilateral consultations in the regulatory field to ensure that domestic pharmaceuticals are subject to the UAE's simplified approval system."
Earlier, on the 17th of last month, Medytox participated in President Yoon Seok-yeol's UAE tour delegation and signed an MOU with DSP for the construction of a toxin finished product factory based on 'MT10109L.' Medytox plans to target the global Muslim market as well as the Middle East and European markets through halal certification of MT10109L. Once Medytox's local production facility in Dubai is established, it will become the first Korean company to own toxin production facilities overseas.
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
