Reyon Pharmaceutical and NextBiomedical announced that they have signed a strategic Memorandum of Understanding (MOU) to commercialize innovative convergence medical products.

Reyon Pharmaceutical has established a solid presence in the hemostatic agent market as the only company in South Korea that manufactures finished thrombin drug products. Thrombin is a proteolytic enzyme that promotes blood coagulation and is used as a topical hemostat in various situations, such as intraoperative bleeding, delivering an excellent hemostatic effect with just a single application.

This agreement focuses on strengthening the collaboration between the two companies for the development of convergence medical products and maximizing mutual synergy by combining Reyon Pharmaceutical's thrombin manufacturing technology with NextBiomedical's innovative medical device hemostats and platform technologies. NextBiomedical possesses 'Nexpowder™', a powder-type hemostat capable of effectively stopping bleeding during endoscopic procedures and preventing future re-bleeding. The product has entered major global markets, including the U.S., Europe, and Japan, proving the competitiveness of domestic medical device technology.

An official stated, "The combination of Reyon Pharmaceutical's thrombin production know-how and NextBiomedical's innovative medical device technology will enable us to introduce a combination solution that will become a game changer in the hemostasis market." The official added, "Through this MOU, we will contribute to addressing unmet medical needs in both domestic and international clinical settings and enhancing patient safety."

Based on its stable supply capability of thrombin, Reyon Pharmaceutical is expanding its business scope into the medical device sector by broadening cooperation with leading domestic and international medical device companies.

According to the 'Korean Medical Device Market Report' by Synex, a market research firm, the domestic hemostatic agent market size stood at approximately 270 billion KRW as of 2023 and is expected to see a steady growth rate of over 10% annually.

This collaboration is interpreted as a strategy to further solidify Reyon Pharmaceutical's competitive advantage in the hemostatic agent market through the advancement of its existing drug portfolio, along with the expansion of its biopharmaceutical CDMO business, which the company is heavily focusing on.