SEOUL -- Daewoong Pharmaceutical, a bioengineering company in South Korea, forged a new partnership with AEON Biopharma, an American biopharma company, on the commercialization of its botulinum toxin (botox) product, Nabota, for therapeutic purposes. Nabota secured approval from the U.S. Food and Drug Administration in February this year.
AEON Biopharma won exclusive rights related to the commercialization of Nabota in the United States, Europe, Australia, Canada, Russia and South Africa. The company is dedicated to the medical applications of therapeutic toxins. Beyond cosmetic applications, botox offers relief to patients suffering from the pain and functional impairment associated with numerous medical conditions.
In South Korea and other countries, Daewoong has mainly promoted Nabota as the treatment of frown lines.
"Sales for therapeutic purposes account for about 60 percent in the global botulinum toxin market. Our advance into the treatment market will be the next growth engine," said Park Sung-soo, head of Daewoong's Nabota business division. Evolus, a U.S. medical aesthetics company which develops and produces toxins, is in charge of Nabota's cosmetic applications.
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