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According to Yonhap News,
(JEJU=Yonhap News) Bota Medi, a tenant company in Jeju Science Park, revealed it received KRW 170 billion from China's Beijing Xiaoqing Technology Company on May 10.
The two sides concluded an agreement for business participation and investment in the production, distribution and marketing of new marine polyphenol material, Seanol, in order to revitalize business in China.
Through the agreement, the two sides promised comprehensive and active cooperation, and decided to establish a technology center in Yancheng City, Jiangsu Province, China, where the Kia Motors plant is located.
Bota Medi is a bio-venture company focused on basic science and application research, production technology and product commercialization of food, cosmetics and medicine containing Seanol since 2001. Seanol is known to slow down the process of aging in cells.
In 2008, Seanol received a new dietary ingredient (NDI) certification from the U.S. Food and Drug Association (FDA) and then received a new food innovation (NFI) from the European food Safety Authority (EFSA).
In the pharmaceutical field, Seanol got the Investigational New Drug (IND) grant from the FDA in 2013.
khc@yna.co.kr
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** This article was translated from Korean.
Source: Yonhap News (May 10, 2018)