BioPlus Obtains MFDS Approval for Cystitis Treatment 'Blad-Care'
[Asia Economy Reporter Jang Hyowon] BioPlus (CEO Jeong Hyunkyoo) announced on the 17th that it has obtained medical device product approval from the Ministry of Food and Drug Safety for its cystitis treatment (Blad-Care).
The cystitis treatment developed by BioPlus is a medical device product that reconstructs, supplements, and protects the damaged GAG (glycosaminoglycan) layer of the bladder wall, showing efficacy in the treatment and symptom improvement of chronic cystitis or interstitial cystitis. With the excellent quality based on BioPlus's proprietary patented technology MDM Tech and price competitiveness due to in-house production, it is expected to have sufficient competitiveness in the domestic market, which has been centered on imported products.
A company official stated, “The cystitis treatment research and development was promoted with research funding after being selected for the project ‘Development of bladder tissue repair material using hyaluronic acid (HA) and chondroitin sulfate as main ingredients’ by the Korea Industrial Technology Association,” adding, “Completing product development and obtaining approval from the Ministry of Food and Drug Safety also holds great significance in terms of successfully completing the project.”
BioPlus plans to register the cystitis treatment approved by the Ministry of Food and Drug Safety with the Health Insurance Review & Assessment Service as a treatment material and to fully enter the domestic and overseas markets starting next year. The global market for cystitis treatments is estimated at about 5 trillion KRW, and the domestic market is estimated at about 50 billion KRW.
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Jeong Hyunkyoo, CEO of BioPlus, emphasized, “During the development process of the cystitis treatment, we have already started contract negotiations with numerous domestic and international pharmaceutical companies,” and added, “Along with the high growth in our core businesses of fillers and adhesion prevention agents, from next year, the cystitis treatment, together with joint tissue repair materials, will establish itself as a new growth item for our company.”
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