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Photo = Yonhap news |
[Alpha Biz= Kim Jisun] GC Green Cross Group is making a full-scale entry into the global botulinum toxin market, valued at over 12 trillion won.
On Wednesday, GC Green Cross Wellbeing, an affiliate of GC Green Cross Group, announced that it has acquired a controlling stake in botulinum toxin developer Inibio. The acquisition is valued at approximately 40 billion won, and the transaction will be made in cash. Upon completion, GC Green Cross Wellbeing will hold a 21.35% stake in Inibio. The acquisition is scheduled to be finalized on April 4.
With this acquisition, GC Green Cross Wellbeing aims to strengthen its competitiveness in both domestic and international botulinum toxin markets. Founded in 2017, Inibio is a biopharmaceutical company with patented technology to produce 100% pure botulinum toxin products.
It also has an extensive global network and a GMP (Good Manufacturing Practice) production facility capable of obtaining approvals from the U.S. Food and Drug Administration (FDA) and the European Medicines Agency (EMA). The GMP facility, located in Bucheon, Gyeonggi Province, is the largest single production plant of its kind in South Korea.
Inibio’s botulinum toxin product, "Inibo," is free from controversies surrounding the origin of its strain. The strain was sourced from the Culture Collection University of Gothenburg (CCUG), a reputable microbial strain bank based in Sweden.
Alphabiz Reporter Kim Jisun(stockmk2020@alphabiz.co.kr)
