BioFDNC Signs MOU with Indian Beauty Medical Specialist ECI... "Entry into Indian Market"

Plant cell platform company BioFDNC announced on the 23rd that it has signed a Memorandum of Understanding (MOU) with India's beauty medical specialist company ECI (ESTHETIC CENTERS INTERNATIONAL PVT LTD) to pioneer the Indian market, expand product categories, and enter the European market.

India, which has the world's largest population, is experiencing a continuous increase in demand for beauty medical services as income levels rise along with economic growth.

ECI, which signed the MOU with BioFDNC, is a company composed of five institutions in India: Debarata-Auro (an organization serving underprivileged groups), IAFCS (a medical beauty professional education institution), QR678 (a scalp clinic), TECCRO (a clinical research center), and The Esthetic Clinics (a beauty clinic center).

Soojung Kim, Executive Director of BioFDNC, said, "QR678, a cosmeceutical product that BioFDNC has been steadily supplying exclusively to ECI, is a specialized product for aesthetics and scalp care in India," adding, "It has secured high popularity and user satisfaction."

She continued, "We are currently discussing the development and supply of at least three additional products within this year for entry into the Indian and European markets with ECI," and explained, "BioFDNC and ECI have promised mutual cooperation to continuously develop innovative additional products in the cosmeceutical market while simultaneously expanding their business areas with medical device products."

Currently, ECI has a wide medical network in the fields of dermatology and medical devices in India. It operates TECHPRO as a subsidiary, which provides clinical trials in the fields of cosmeceuticals, medical devices, and skin-related therapeutics. It is expected that the complementary cooperation between the two companies will enable rapid advancement into the global market.

Daehyun Jung, CEO of BioFDNC, emphasized, "Strengthening mutual cooperation with ECI this time is a very important turning point that can capture two goals: increasing sales scale and securing future growth potential," adding, "We will do our best to expand cooperation so that visible results can be achieved in all areas of cosmeceuticals, bioactive materials, medical devices, and microneedle patches being developed by BioFDNC."