Published date: November 17th, 2021
BioPlus (CEO Jeong Hyun-kyu) announced on the 17th that it has obtained a medical device item license from the Ministry of Food and Drug Safety for its bladder inflammation treatment (Blad-Care).
The cystitis treatment developed by BioPlus is a medical device product that is effective in treating and improving symptoms of chronic cystitis or interstitial cystitis as a function of reconstructing, supplementing, and protecting the damaged layer of the bladder wall. It is expected to have sufficient competitiveness in the domestic market centered on existing imported products due to its excellent quality applied with MDM Tech, an independent original patented technology of BioPlus, and price differentiation based on its own production.
A company official said, “It was selected by the Korea Industrial Technology Promotion Association for the development of bladder tissue restoration materials based on hyaluronic acid and cobalt sulfate, and research and development of cystitis treatment was carried out with research funds.”
BioPlus plans to promote the registration of therapeutic materials with the Health Insurance Review and Assessment Service for bladder inflammation treatments approved by the Ministry of Food and Drug Safety and enter the domestic and foreign markets in earnest from next year. The global market for bladder inflammation treatment is estimated to be about 5 trillion won and the domestic market is estimated to be about 50 billion won.
“In the process of developing bladder inflammation treatments, we have already begun contract consultations with many domestic and foreign pharmaceutical companies”, said Jeong Hyun-kyu, CEO of BioPlus. “In addition to the high growth of filler and anti-adhesion drugs, our main business, arthritis treatments will become our new growth items from next year.”
Reporter Jang Hyowon, email@example.com