November 22, 2024

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[THE INVESTOR] Medytox said on Aug. 29 that it has filed a biologics license application with the Taiwan Food and Drug Administration for the sale of its botulinum toxin Neuronox. The news sent its shares up 6.31 percent to close at 674,000 won (US$607.21).

Neuronox, also known as Meditoxin in Korea, is Medytox’s flagship product that treats glabella lines. 

If the Korean biotech firm clears the final regulatory hurdle, Neuronox will become the fourth botulinum toxin approved by the Taiwan health regulator, following Allergan’s Botox, Ipsen’s Dysport and Merz’s Xeomin.

Medytox has laid the groundwork for commercial launch of Neuronox by establishing Medytox Taiwan, a joint venture with Taipei-based Dynamic Medical Technologies in 2015.

The partnership strategy has been applied to the mainland Chinese market as well, where the company sought marketing authorization for the neurotoxin product in February.

It partnered with Hong Kong-based Bloomage BioTechnology to set up a joint venture, Medybloom, in 2015 to have a distribution network.

By Park Han-na (hnpark@heraldcorp.com)