The Spanish biotech company has reached an agreement which gives HanAll BioPharma exclusive distribution rights for its probiotic AB-LIFE in South-Korea. AB-LIFE, already has distributors in United States, Canada, Spain, Southern Europe, Brazil, Venezuela and Mexico.
12 Nov 2012 --- The Spanish biotech company AB-BIOTICS has signed a 10-year license agreement which gives HanAll BioPharma exclusive rights to distribute its cholesterol-lowering probiotic AB-LIFE in South-Korea. According to clinical trials supported by the Ethics Committee of Hospital Puerta del Hierro (Madrid), AB-LIFE reduces total cholesterol levels between 14% and 18%. AB-LIFE will be released in the next six months in the Korean market, with great sales potential as the prevalence of hypercholesterolemia in that country is estimated to be 8.9% and 10.4% in men and women, respectively, according to a study by the Korea Medical Insurance Corporation.
"This contract marks a significant milestone for AB-BIOTICS, since Korea opens the Asian door for our international expansion, and thanks to HanAll BioPharma we can enter there with a local and very well positioned partnership”, said Miquel Angel Bonachera and Sergi Audivert, co-founders and CEOs of AB-BIOTICS.
With near 40 years of experience in the pharmaceutical market, HanAll BioPharma 's profile makes it an ideal partner to accompany AB-BIOTICS in its entry into the Korean market. The company is listed on the Korean Stock Exchange and had a turnover over 100 million dollars in 2010.
The agreement with HanAll BioPharma is the fifth international license agreement signed by AB-BIOTICS so far this year. The probiotic AB-LIFE already has license agreements in Mexico, Venezuela and Brazil through the pharmaceutical companies Armstrong Laboratories, LETI Laboratories and Biolab, respectively. Aceto Corporation will distribute it in the United States and Canada, and INSPHARMA has the distribution rights in Southeast Europe. In Spain, AB-LIFE is marketed by LACER Laboratories.
AB-BIOTICS is a Spanish biotechnology company focused on research, development, protection and distribution of its own exclusive biotechnological solutions. Since 2010, the company has been listed on the Spanish Alternative Investment Market (MAB).In December 2011, AB-BIOTICS closed a fundraising round of 4.3 million euros to tackle the 1st phase of the company’s internationalization plan. The goal is to have presence in markets such as Brazil, USA, Mexico, UK, Germany, France and Turkey, especially to market its personalized medicine solutions and licensing its line of functional ingredients, including AB-LIFE. AB-Biotics’ total revenue for 2011 was €6.16 million, up 71% from the previous year.
HanAll BioPharma is an R&D-oriented biopharmaceutical company listed on the Korean Stock Exchange and focused on drug delivery, biotherapeutics, and new small molecule discovery. The mission of HanAll is to contribute to the betterment of global society by providing innovative drug research and development, medical information and advanced products. It has been developing innovative and unique biopharmaceutical products to treat major diseases for the global market. The company has proprietary programs with broad therapeutic applications. With over 100 million USD of annual turnover in 2010, HanAll has built a strong regional presence in anti-infectives and amino acid IV fluids areas through hospital distribution.
