Medytox Inc. will build a plant for finished botulinum toxin products in Dubai, making it the first for a Korean biopharmaceutical company.

Medytox on Tuesday said it signed a memorandum of understanding with Dubai Science Park owned by TECOM GROUP, a state-run company in Dubai, to build a factory for finished botox products during the Korea-UAE Business Forum in Abu Dhabi on Monday. Medytox is participating in President Yoon Suk-yeol’s economic mission to the Gulf nation.

Botulinum toxin, often called botox for short, is widely used in wrinkle therapy for glabella lines.

Under the MOU, Medytox will build a production facility for its MT10109L, a ready-to-use liquid toxin composition without animal protein in Dubai.

To become a global biotech company, having a local production facility is essential. The finished botox product factory in Dubai will be a bridgehead for Medytox’s toxin preparations to enter the global market, said the company’s Chief Executive Officer Jung Hyun-ho.

By Pulse

[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]