Rafarma pharmaceutical updates: creation of a joint research and production enterprise in Busan (South Korea) between Rafarma and the Korean pharmaceutical company Woods Medical Care

Rhea-AI Summary

Rafarma Pharmaceuticals (OTC: RAFA) announced a preliminary agreement with Woods Medical Care to establish a joint venture in Busan Technology Park, South Korea. This venture aims to produce radiopharmaceuticals and nuclear medicine treatments, including Yttrium-90-based products and lithium-capture therapy units. The initiative will serve East Asian markets, focusing on cancer treatments such as brachytherapy for prostate and liver cancers. The anticipated revenue is $50 million over five years, with potential profits of $20 million within four years. The project requires an estimated $30 million investment.

Positive

• Projected revenue of $50 million within the first five years.
• Potential profit exceeding $20 million in four years.
• Investment of $30 million highlighting significant growth potential.
• Establishment in Busan Technology Park indicates strategic market entry in South Korea.

Negative

• High initial investment requirement of $30 million.
• The success is contingent on market acceptance and execution in a competitive industry.

Sheridan, Wyoming, USA, July 03, 2024 (GLOBE NEWSWIRE) -- Rafarma Pharmaceuticals (OTC: RAFA) - Rafarma Pharmaceuticals is pleased to announce the signing of a preliminary agreement to establish a joint industrial venture in Busan Technology Park (South Korea) as the Dongnam Industrial Park of Radiological & Medical Sciences. The partners in the venture are Rafarma and the Korean pharmaceutical company Woods Medical Care.

Woods Medical Care, Inc. was established to grow into a global pharmaceutical company producing radiopharmaceuticals by collaborating with Korea Atomic Energy Research Institute.

One of the priorities of the scientific and medical company Rafarma is the promotion of nuclear medicine as a high-tech method of cancer treatment. Nuclear medicine includes brachytherapy with embolization of inoperable metastases of prostate cancer and hepatocellular liver cancer and liver metastases as common complications of cancer.

We previously announced the creation of a similar facility in Hong Kong, but after much consideration, Korea was identified as a more attractive market for investment in the field of radiopharmacology and nuclear medicine.

The main goal of the joint venture is to organize and run a business for the production and sale of medical products based on the isotope “Yttrium-90” (“Y90”), as well as boron and lithium capture therapy units.

International cooperation between companies includes:

1) Release of packaging of microsphere-based products for the East Asian markets and their promotion for the treatment of cancer;

2) Bench assembly of medical accelerators for lithium-capture therapy for cancer treatment;

3) Promotion of lithium capture technology in East Asia as a service to hospitals to promote this therapy for cancer treatment;

4) Organization of production and construction in the Busan Technopark of a plant for the production of microsources for brachytherapy based on iodine isotopes for treatment.

The potential revenue of the created enterprise can reach $50 million in the first 5 years, and the potential profit exceed $20 million in 4 years. The parties estimate the required investment in the project to be about $30 million.

ABOUT RAFARMA PHARMACEUTICALS

Rafarma Pharmaceuticals is a diversified pharmaceutical company dedicated to the new treatments and solutions development for patients in various fields. Regularly cooperating with leading research institutes and pharmaceutical companies around the world, the business has earned a reputation as a reliable manufacturer and distributor. Rafarma Pharmaceuticals has more than 25 programs in molecular biology, nuclear medicine, immunology, sustainable packaging, and many other fields at the moment.

For more information, please visit https://www.noyarp.com

CONTACTS:
RAFARMA PHARMACEUTICALS
babenko_press@rafapharm.com
+1 (307) 218-0292
Sheridan, Wyoming, 82801, USA

Source: Rafarma Pharmaceuticals, Inc.

FAQ

What is the new joint venture announced by Rafarma Pharmaceuticals?

Rafarma Pharmaceuticals announced a joint venture with Woods Medical Care to produce radiopharmaceuticals and nuclear medicine treatments in Busan Technology Park, South Korea.

What are the primary products of the Rafarma and Woods Medical Care joint venture?

The joint venture will produce Yttrium-90-based products, lithium-capture therapy units, and microsources for brachytherapy using iodine isotopes.

How much revenue is the Rafarma joint venture expected to generate?

The joint venture is projected to generate $50 million in revenue over the first five years.

What is the required investment for the Rafarma and Woods Medical Care joint venture?

The joint venture requires an estimated investment of $30 million.

What are the projected profits for Rafarma Pharmaceuticals from the joint venture?

The joint venture is expected to yield potential profits exceeding $20 million within four years.