WizMediBio Signs Contract with the Wisconsin Alumni Research Foundation (WARF) for Botulinum Toxin Strain

EQS Newswire / 09/04/2024 / 17:47 UTC+8WizMediBio Signs Contract with the Wisconsin Alumni Research Foundation (WARF) for Botulinum Toxin Strain


Seoul, Korea - April 09, 2024 - (SeaPRwire) - WizMedi Bio Co., Ltd. (WizMedi Bio) today announced that it has reached a formal agreement with the Wisconsin Alumni Research Foundation (WARF), established by the University of Wisconsin, for the patent and technical licensing of the A6 botulinum neurotoxin strain. This agreement enables WizMedi Bio to prove the origin of the strain, which has been the primary hurdle to the botulinum toxin business, and paves a pathway to develop a stable new business in the market.

The A1 botulinum toxin currently dominates the market and as a novel subtype, A6 presents itself as a challenger. Therefore, the future course of the A6 strain as a BOTULINUM TOXIN provides a new opportunity in the botulinum field. According to research published by Dr. Eric A. Johnson and colleagues, the A6 strain is known to have high potency and long duration of action in animal models. Evidence indicates the toxin is also known to stay long in local areas. Due to its high potency with fewer side effects, the A6 strain is expected to bring a new perspective to the market.

WizMedi Bio has signed consulting agreements with world-renowned scholars in this field and announced that it will actively target not only the Korean domestic market but also the U.S. market, which is a challenging market to enter. To bring A6 to commerce, the company has also signed an agreement for a strategic alliance with BNC Korea, Inc. (http://bnckorea.co.kr/), utilizing their GMP botulinum toxin facility, for joint research and development. Moreover, the company will actively work in tandem with the FDA to secure a production facility in the U.S.

WizMedi Bio was co-founded by two medical doctors based on their expertise and know-how gained at WizMedi Co., Ltd., a company dedicated to the research and development of products targeted at the beauty and medical aesthetic markets. The company aims to capture the botulinum toxin market based on maximized utilization of its distribution network and experience. In particular, it will actively target the U.S. market, which accounts for more than 60% of the global market.

"We will enhance the global market, especially the U.S., with novel botulinum toxin products," said Choi Yong-hoon, the CEO of WizMedi Bio.

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SOURCE: Wizmedi Co., Ltd.

09/04/2024 Dissemination of a Financial Press Release, transmitted by EQS News.
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