This agreement will bring CUBEBIO and
COSMAX PHARMA to work jointly on the mass production of IVD medical devices for
early cancer detection, the scope of agreement ranging from the production of
biosensors, analyzer to the production process development. The COSMAX PHARMA
manufactured products will be exported to the countries that have signed an
export contract with CUBEBIO, including Russia and 10 neighboring countries,
and to the countries in the Middle East, etc. where the signing of additional
export contracts are scheduled.
COSMAX PHARMA will set up production lines
to manufacture 120 million biosensors per annum and supply the products in
response to the additional orders.
COSMAX PHARMA is a subsidiary of COSMAX
GROUP, a global top-tier ODM service provider in cosmetics, providing its
services to over 600 brands around the globe, recording 1.6 trillion won in
sales last year.
COSMAX GROUP expanded its scope from
cosmetics ODM business to pharmaceutical ODM business in 2015. In April 2018,
COSMAX GROUP acquired Two-Win Pharma, a pharmaceutical CMO company, and
re-launched to current COSMAX PHARMA in March 2020 after integrating with the
existing pharmaceutical business department at COSMAX BIO.
Working together with COSMAX PHARMA, a
subsidiary of COSMAX GROUP with an extensive distribution network and
production facility across the globe over 10 countries such as China and the
U.S. will allow CUBEBIO to secure a sufficient production capability as well as
a potential foreign market expansion.