On October 19th, LG Chem, under the leadership of CEO Hak-cheol Shin, made a significant announcement by formalizing a memorandum of understanding (MOU) with BR Pharm, a prominent company specializing in regenerative medicine technology research and manufacturing. This collaborative effort is geared towards the development and approval of "HP Vitaran" in the Chinese market.

HP Vitaran, a medical device skin booster containing Polynucleotide (PN) derived from salmon and other fish reproductive cells, has been successfully available in South Korea since September. The PN component plays a crucial role in inhibiting cytokines responsible for skin inflammation and enhancing fibroblast proliferation, thereby promoting skin tissue regeneration. Clinical trials of "Vitaran Eye" involving 250 Korean subjects have demonstrated remarkable improvements in crow's feet wrinkles.

Under this agreement, both LG Chem and BR Pharm are committed to exploring avenues for the entry and commercialization of Vitaran in the thriving Chinese market. Hye-Ja Kim, Head of LG Chem's Aesthetics Business Division, emphasized their strategic approach, stating, "In 2021, we established an aesthetic sales subsidiary in China and are actively expanding our market presence through direct sales." She further added, "By strengthening our partnership with BR Pharm, we will consistently deliver unique value to customers in the Chinese aesthetic market."

Seok-Soon Kim, CEO of BR Pharm, conveyed their enthusiasm, saying, "We will accelerate our entry into the Chinese market by leveraging the synergies between BR Pharm's manufacturing expertise and LG Chem's capabilities in the Chinese aesthetics business."