Aquavit Pharmaceuticals Adds New Advanced Drug Delivery Technology to Product Portfolio
New York, NEW YORK, Nov 5, 2013
Aquavit Pharmaceuticals, Inc. has further extended its personalized drug delivery platform by signing a binding preliminary agreement with Huons Co, Ltd. (KOSDAQ: 84110), a leading Korean pharmaceuticals company. The agreement formalizes the strategic partnership between the parties and gives Aquavit the worldwide, perpetual, and unlimited license for global commercialization of a cutting-edge drug-delivery system.
The two companies will be investing up to 20 Million USD to further develop the technology and bring to market the highest standard, GMP manufactured product innovations.
"It is a very exciting technology extension for Aquavit. I can already think of many applications and possibilities," said Dr. Nark K. Roh, a world renowned dermatologist and Medical Director of Leaders Clinic.
Aquavit's integrated platform includes innovative microneedle technology, first-of-its-kind desktop robotics for real-time formulations, and proprietary and personalized compounds and admixtures tied together by an advanced health informatics technology. Recently, Aquavit showcased its platform technology at the Big Data in Pharma Conference (Big Dip 2013) opening the Big Data Applications Session.
Earlier this year, Aquavit in-licensed its first microneedle delivery system, AQT-001 branded as AQUAGOLD® fine touch™. Aquavit holds the perpetual, exclusive, worldwide right to license, sub-license, improve and/or commercialize the AQT series and all derivative intellectual property. The AQT series has FDA, CE Mark and KFDA registration and will commerce global distribution in early 2014.
"We look forward to unveiling this latest technology to the public at the 72nd American Academy of Dermatology Annual Meeting in Denver in March, 2014. We aim to be a leader in personalized treatment options integrating innovative technologies such as AQT-001, assessment tools, and MAV-403, our AI platform," said Sobin Chang, CEO of Aquavit.
About Huons Co., Ltd.
Huons Co, Ltd. (KOSDAQ: 84110) is a leading Korean pharmaceuticals company focusing in the development and distribution of drugs, medical devices and regulated cosmetics. It's areas of strength are Urology Orthopedic Surgery, Anti-Arthritis, Anesthetics, Natural Well-Being Products including Anti-Obesity, Gynecology and related Women's Health and Dental Care. For more information, visit www.huons.com
About Aquavit Pharmaceuticals, Inc.
Aquavit Pharmaceuticals is a multi-specialty healthcare company focused on discovering, developing and commercializing innovative pharmaceuticals, medical devices and health technologies. For more information, visit www.aquavitpharma.com
SOURCE Aquavit Pharmaceuticals, Inc.