[E-Daily Reporter Lee Jung-hyun]
KORU PHARMA Co., Ltd. (CEO Roman Vernidub) announced on November 16th that it had signed an exclusive contract for technology transfer with bio-startup NexGel Biotech Co., Ltd. (CEO Song Soo-chang) for production of fillers without cross-linking agents. Under this contract, KORU PHARMA plans to pay NexGel flat-rate technology fees and recurring technology fees.
KORU PHARMA’s CEO Roman Vernidub said, “NexGel is promoting the commercialization of cosmetic fillers that can overcome the limitations of hyaluronic acid fillers. In particular, this product does not contain chemical cross-linking agents, so there are no side effects such as swelling or inflammation, and it is excellent in terms of safety. If KORU PHARMA creates synergy through this technology, we expect it to become a game changer in the filler industry.”
KORU PHARMA has been concentrating on developing innovative technologies for filler injections with excellent stability in human body and best aesthetic effects. Among filler raw materials, hyaluronic acid is the most popular, and although this component is known to have higher biosafety than other raw materials, side effects may occur because it contains a chemical cross-linking agent with biotoxicity.
Utilising the KORU PHARMA developed MCO TECH (Minimizing Cross-linking agent Optimising reaction Technology) purification technology, the hyaluronic acid cross-linking reaction conditions were optimised and the use of a toxic cross-linking agent was minimised to successfully commercialise a hyaluronic acid-based filler. Through this contract with NexGel, the company explained that it has seized the opportunity to preoccupy the global market with new next-generation filler technology.
Koru Pharma is a cosmetic + medical company established in 2016. It has developed various products and fillers for the face, body, and hair, has received Medical Device Manufacturing Certification for export from the Ministry of Food and Drug Safety, and exports them overseas. Company revenue in 2021 recorded 18 billion won and is expected to reach about 30 billion won this year.
Thanks to the global K-beauty popularity, KORU PHARMA has grown into a company that exports 100% of its product to 90 countries, including the United States, Germany, France, etc.
In the future, based on the high safety and high purity of raw materials, the company plans to expand export channels to more than 100 countries and continuously increase its share in the global market by entering the domestic market.
Source
