Japanese Pharmaceutical Distributor 'Alfresa' Establishes 'Genecell' in Korea

Joo Heeseok, Former Executive at Daewoong Pharmaceutical and Medytox, Appointed as Inaugural CEO

Alfresa Corporation, a Japanese company engaged in pharmaceutical development, manufacturing, and distribution, announced on November 3 that it has established a subsidiary called Genecell in Korea to expand its business in the stem cell sector. Through Genecell, Alfresa plans to strengthen its position in the Asian market and accelerate its global expansion.

Genecell

Joo Heeseok, who has accumulated 35 years of experience ranging from hands-on work to executive management at Daewoong Pharmaceutical and Medytox, has been appointed as the new CEO of Genecell. He is recognized for leading market strategies based on his extensive network and expertise across the pharmaceutical industry, including regulatory affairs, drug pricing, public relations, and marketing.

CEO Joo has set "Forever Young," which signifies the pursuit of eternal youth, as Genecell's corporate slogan and plans to enter the market through various stem cell-related businesses. The company will actively pursue regenerative medicine research, the development of stem cell and culture medium-based products, and strategic alliances and mergers and acquisitions (M&A) with promising domestic bio companies. To achieve these goals, Genecell is accelerating the recruitment of talent in research and development (R&D), marketing, and business development (BD).

An Alfresa representative stated, "The Korean bio industry is one of the most dynamically growing markets in Asia, and especially the aesthetics sector is at a world-class level. Alfresa, with its expertise in pharmaceutical distribution and stem cell-related technologies, aims to create new business models through Genecell."

Joo Heeseok, CEO of Genecell, said, "Leveraging my extensive experience and wide network, I will grow Genecell into a global hub in the stem cell field. Based on Alfresa's technological capabilities and know-how, we will simultaneously pursue the development of high value-added products and premium branding." He added, "We will also actively pursue various forms of collaboration and strategic M&A so that promising Korean bio, beauty, and medical device companies can advance into the global market."