Medy-Tox Inc., a South Korean pharmaceutical company, has taken a significant step in expanding its global footprint by establishing a US subsidiary, Luvantas, based in Irvine, California. This move is primarily aimed at advancing the market entry of its innovative product, MT10109L (ingredient name: NivobotulinumtoxinA), a non-animal-derived liquid toxin formulation. Medytox, which holds complete equity in Luvantas, has already submitted a biologics license application for MT10109L to the US Food and Drug Administration (FDA) on December 27 last year.
Luvantas will be responsible for the local operations and marketing of MT10109L in the US, Canada, and other regions. Furthermore, the subsidiary plans to explore markets in advanced countries with products like the hyaluronic acid filler Neuramis, the derma cosmetic Neuraderm, among others.
Heading Luvantas is CEO Thomas Albright, a former executive at Allergan. Albright is renowned for his pivotal role in the successful global launch and marketing of Botox for aesthetic purposes, as well as his contributions to research and development in therapeutic indications and next-generation biologics.
MT10109L stands out in the market as it is developed without using any animal-derived components throughout its manufacturing process. This includes the exclusion of animal products in strain cultivation and raw material production. Medy-Tox is optimistic that Albright’s extensive experience in the global skincare treatment market will be instrumental in achieving successful entry into the US market and securing FDA approval for MT10109L by the projected timeline of 2025. This development represents a significant advancement in the field of pharmaceuticals, particularly in non-animal-derived products, aligning with the growing demand for ethical and sustainable medical solutions.
