According to the MOU, Green Cross will receive an exclusive license to commercialize Aquavit’s IBX-001 in Korea and will support the product development, registration and manufacturing.
Aquavit chief executive officer Sobin Chang said the company has collaborated with Green Cross, a reputable company with firm presence in Asia-Pacific.
"We aim to be a global leader with our innovative personalized treatments through strategic partnerships," Chang added.
The MOU further outlines potential partnerships for other product development and commercialization, according to Aquavit.
Green Cross is a publicly traded Korean biopharmaceutical company that specializes in the development and commercialization of vaccines, plasma-derivatives, recombinant proteins, and therapeutic antibodies for use in the fields of oncology and infectious disease.
Aquavit is a multi-specialty healthcare company focused on discovering, developing and commercializing pharmaceuticals, medical device, and health technologies.