Pictogram-Ijel-China Ocell Biotech, Tripartite Business Agreement

Picrogram announced that it has signed a tripartite business agreement with Eyesel and Shanghai OCell Biotech Co., Ltd.

The agreement was made for the purpose of developing, producing, and distributing innovative cell-based cosmetics. Picrogram explained that it is a broad strategic framework agreement that includes technology exchange and employee training among the three parties.

Through this business agreement, Picrogram will promote research on cell-based development and technology with Eyesel, in which it recently acquired a 12.7% stake. They plan to expand into overseas markets, including China.

Choi Seok-rim, CEO of Picrogram, said, "The tripartite business agreement is expected to serve as a foothold for entering the rapidly growing cell-based cosmetics market in China."

He added, "We also agreed to strengthen cooperation in equipment areas such as the fully automated and unmanned state-of-the-art 5G cell bank and ultra-low temperature cell storage facilities, which were pioneered and established by OriginCell Technology Group and OriginCell."

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