April 19, 2024
Bio
Huons inks US$53m deal with Sesderma to sell botulinum toxin in Europe
[THE INVESTOR] Huons said on April 30 that it has signed a contract worth 56.7 billion won (US$53.10 million) with Spanish dermo-cosmetics brand Sesderma to supply its self-developed botulinum toxin product in Europe.
Under the agreement, Huons will export the neurotoxin HU-014, also known as Hutox, to Spain, UK, Italy, Germany, Poland and other European nations for seven years from the first half of 2021.
Under the agreement, Huons will export the neurotoxin HU-014, also known as Hutox, to Spain, UK, Italy, Germany, Poland and other European nations for seven years from the first half of 2021.
 |
“We are pleased to seal the large-scale deal in the advanced beauty market Europe for the first time. Having the contract as our first stepping-stone, we will continue to expand our strategic alliance with leading companies around the world,” CEO Um Ki-ahn said in a statement.
Sesderma -- headquartered in Barcelona with a sales network in 50 countries, mostly in Latin America and Europe -- and a European contract research organization will seek approval from the European Medicines Agency to initiate phase 3 clinical trials of Hutox, a Huons official told The Investor. In Korea, Huons plans to launch the anti-wrinkle injection in 2019 after completing the phase 3 clinical program this year.
Botulinum toxin is an area many major Korean biotech companies such as Daewoong Pharmaceuticals and Medytox are focusing on to make global inroads. Daewoong is currently leading the pack in Europe as the company submitted its regulatory filing with the EMA for market approval in July last year through its partner Evolus. Hugel is conducting the final stage clinical studies on its version Botulex there.
By Park Han-na (hnpark@heraldcorp.com)
