RF Tech "Additional 15 Billion KRW Investment in Subsidiary to Establish New Toxin and Filler Factory"

[Asia Economy Reporter Hyunseok Yoo] RF Bio is set to receive an investment of 15 billion KRW from its parent company RF Tech to build new factories for botulinum toxin and HA filler production. Since RF Bio completed commercial viability verification of its proprietary botulinum strain last year, related investments are expected to accelerate starting with this expansion.

On the 4th, RF Tech announced that it will invest 15 billion KRW in its subsidiary RF Bio through a third-party allotment of new shares. RF Bio plans to combine this capital increase with its own funds to establish mass production facilities for botulinum toxin and to accelerate preparations for commercialization, including clinical trials. Additionally, due to increased sales of hyaluronic acid (HA) fillers, a new filler factory will also be constructed.

An RF Bio official stated, “We have submitted related materials, including the acquisition process of the honey-derived strain and the whole genome sequencing results, to relevant authorities to externally prove that we possess an independent strain. We also confirmed that the strain’s toxin production ability and potency are superior to existing commercial strains, so based on this funding, we decided to proceed with related facility investments.”

RF Bio’s botulinum toxin factory will be built to meet the ‘current Good Manufacturing Practice (cGMP)’ standards required by major advanced countries such as the United States and Europe.

The official emphasized, “Because it is based on an independent strain, we can compete with existing products in the global market without restrictions. We will accelerate commercialization targeting not only Korea but also global markets including the United States, Europe, and China.”

Another RF Bio representative said, “Despite a challenging domestic and international business environment, last year’s external sales of HA fillers recorded 8.4 billion KRW, a 62% increase compared to 2019. Considering the scheduled orders from next year onward, we judged that it would be difficult to respond with the existing production facilities, so we decided to expand the facilities.”

They added, “Since accommodating two factory buildings and related ancillary facilities requires a large site of about 10,000 pyeong, we plan to complete site selection within this month and begin design work.”

This content was produced with the assistance of AI translation services.