Aquavit to invest in biopharma R&D and manufacturing in South Korea

Aquavit Life Sciences, the South Korea-based subsidiary of privately-held US firm Aquavit Pharmaceuticals, plans to invest in a new R&D and manufacturing facility in Daegu, South Korea.

Aquavit, which is focussed on discovering, developing and commercializing innovative pharmaceuticals, medical devices and health technologies, will build a facility that is compliant with US Food and Drug Administration regulations for current Good Manufacturing Practices (cGMP). Phase 1 of the project will be a 10,000 sq ft space equipped with an ISO 5 class cleanroom under ISO 14644-1 classification. Aquavit signed a five-year contract with Kyungbuk National University (KNU) Technopark, which is a science and technology incubation center.

"We are excited to partner with Aquavit and bring their cutting-edge technology to our research center. Their investment will benefit our local economy, and we are confident that our professionals with advanced degrees in the sciences will contribute to their success," said Kwang-Tae Kim, professor and director of the KNU Technopark.