SEOUL, Nov.13, 2017 / South Korea/ — Aquavit Life Sciences, Inc. (Aquavit) is pleased to announce the acquisition of Korean manufacturing company Hail Co. Ltd (Hail).
The acquisition will result in many benefits, including improvements in quality assurance and quality control, increased output capacity and a decreased R&D timeline.
“This is a good strategic move for Aquavit Life Sciences,” said Sobin Chang, Chief Executive Officer. “It will allow us to improve quality assurance and quality control, supervision of one of our most important development components, and excel in innovation.”
The right acquisition for Aquavit
The company acquired has been a supplier for one of Aquavit’s long-time manufacturing partners, Uniquest [KRX: 077500].
Major benefits of the Korean acquisition to Aquavit include:
Access to the company’s state-of-the-art ISO 13485 certified Good Manufacturing Practices (GMP) facility, located near the universities and talent pool of Seoul, South KoreaA much larger output capacity compared to the previous GMP facility, now required by increasing demand for Aquavit’s commercial product AQUAGOLD® fine touch™A shorter timeline for Aquavit’s R&D pipeline of combination products by simultaneously, rather than sequentially, working with drugs and biologics development labs.
“This represents a great step forward for Aquavit’s microchannel interdermal delivery projects,” said Dr. David Shafer, Aquavit’s Chief Medical Technology Officer. “With this acquisition, Aquavit’s groundbreaking new technologies are ready for commercialization sooner than we anticipated. This includes broad intellectual property rights in microchannel technologies and repeated motion interdermal delivery of bioactive compounds.”
As part of the acquisition agreement, Hail’s name will be changed to Aquavit Microchannel Technologies, Ltd. Co. and all related certifications [including CE mark and ISO certification] will transfer to its new name.
About AQUAGOLD® fine touch™
AQUAGOLD® is a revolutionary, patented micro-injector that delivers drugs and biologics interdermaly via 24-karat gold-plated microchannel needles. AQUAGOLD®’s patented, repeated-motion microchannel delivery method utilizes a repeated stamping motion to deliver about 1,200 to 2,000 microinjections per minute. This allows the doctor to painlessly and effectively deliver bioactive compounds into the skin, avoiding common complications associated with traditional injection methods.
About Aquavit Life Sciences, Inc.
Aquavit Life Sciences, Inc. is a wholly owned subsidiary of Aquavit Pharmaceuticals, Inc.
About Aquavit Pharmaceuticals, Inc.
Aquavit Pharmaceuticals is a high-tech pharmaceutical company that provides a comprehensive range of innovative pharmaceutical, biotech and medical device technologies.
‘Science Personalized. Healthcare Modernized.’
For more information, visit aquavitpharma.com