Commercial Agency Agreement between Ardena and South Korean company Keyfronbio Co., Ltd.

Keyfronbio was established in May 2011 as a subsidiary of Biotoxtech Co., Ltd., the largest private non-clinical testing agency in Korea that has accumulated a long track record in the non-clinical and clinical fields of pharmaceuticals and  is the first approved private CRO from US FDA GLP inspection.

Biotech and the bio-industry have been recognised as one of the future engines for growth in South Korea and is also a key economic driver.

South Korean President Moon Jae-in said: “Our government will foster the biotechnology and pharmaceutical sectors as the country's new economic growth driver, aiming to triple the export and the global market share of pharmaceutical products and medical instruments by 2030.”

Some of the areas that pose strong potential for biopharmaceutical development include oncology, gastroenterology, and immunology. With these growing sectors, South Korea’s projected growth is expected to reach USD23 billion by 2022 in a report published by GlobalData.

Keyfronbio Co.,Ltd.  will develop the market for the entire Ardena services platform in South Korea.

About Ardena Group

The Ardena Group (’Ardena’) is a world-class Contract Development and Manufacturing Organization. Ardena assists pharmaceutical companies, from virtual biotech to big pharma, in bringing their valued molecules to the clinic and the market.

Ardena provides a comprehensive range of services from early drug substance development to finished dosage form, including: drug substance development & manufacturing; solid state research; drug product development & manufacturing; drug product packaging, labelling & supply; bioanalysis; dossier development and nanomedicine. For more information, please visit https://ardena.com/

About Keyfronbio and Biotoxtech

Keyfronbio is a life science company and a non-clinical CRO head-quartered in Korea. Keyfronbio is a subsidiary of Biotoxtech Co., Ltd and was established in 2011. Keyfronbio provides reliable efficacy testing services with customized study design, and conducts PK evaluation of new drug candidate and PCR-based bio-distribution studies for gene and cell-based therapeutics.

Biotoxtech is a non-clinical CRO offering GLP-complaint toxicological studies and was established in 2000. Biotoxtech offers general toxicity, genotoxicity, safety pharmacology, developmental toxicology, carcinogenicity and histopathology services, etc. Biotoxtech was the first domestic private non-clinical testing institution to receive GLP accreditation from the US FDA.

Keyfronbio and Biotoxtech have broad customer base in Korean pharmaceutical and biotech market and have the experience of submitting hundreds of documents to the regulatory agencies of US, Japan, Europe, etc.