Korean drug developer Mecox CureMed gains speed in U.S. business expansion

South Korean biopharmaceutical company Mecox CureMed Co. has integrated U.S. entity Mecox Medi into its operations as a subsidiary to speed up business in the North American market, the company announced on Thursday.

Mecox Medi is responsible for clinical development of drugs in the parent company’s pipeline overseas, listing shares on the Nasdaq and attraction of overseas investors.

Mecox CureMed plans to conduct R&D for major candidate drugs, including Covid-19 cure M002-A, arthritis drug Bozanics and oncology drug Mecbentu, through the U.S. subsidiary.

Mecox CureMed said it will seek business expansion in the U.S. based on its patented technology, and it is currently working together with Black Canyon Capital, a U.S. private equity financing firm, to implement necessary tasks such as funding from external investors and listing on the U.S. OTC market with a final goal of going public on the Nasdaq. The company’s business expansion idea was first proposed by Black Canyon Capital in October last year, it said.

The U.S. consultancy has a track record of listing portfolio companies on the U.S. stock market.

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