Medytox establishes US subsidiary Luvantas

South Korean pharmaceutical company Medytox Inc. announced on Wednesday that its establishment of the US subsidiary Luvantas.

The goal is the global market entry of its non-animal-derived liquid toxin formulation MT10109L (ingredient name: NivobotulinumtoxinA)  for which it has applied for approval from the US Food and Drug Administration (FDA).

Medytox, holding 100% equity of Luvantas, established it in Irvine, California, to oversee local operations and marketing of the non-animal-derived liquid toxin formulation MT10109L in the US, Canada, and other regions.

Luvantas is also expected to venture into advanced country markets with products like hyaluronic acid filler Neuramis, derma cosmetic Neuraderm, and others in the future.

Thomas Albright, a former Allergan executive, has been recruited as the CEO of Luvantas. Known for successfully leading the global launch of Botox for aesthetic purposes, Albright has overseen the global marketing strategy for Botox and contributed to research and development in new therapeutic indications and next-generation biologics.

Medytox anticipates that Albright's expertise in the global skincare treatment market will lead to the successful US market entry of MT10109L with a goal for FDA approval by 2025.

Medytox submitted a biologics license application for MT10109L to the FDA on Dec. 27 last year.

MT10109L, a non-animal-derived liquid toxin formulation developed by Medytox, excludes the use of animal-derived components throughout the entire manufacturing process, including strain cultivation and raw material production.

Write to Yoo-Rim Kim at youforest@hankyung.com