Medicos Biotech Secures $10 Million Investment and Forms Joint Venture with Rokline

Korean startup Medicos Biotech has secured a 10 billion KRW investment from Rokline Health Concept Inc. (hereafter referred to as Rokline), based in Houston, USA. Furthermore, the two companies have signed an agreement to establish a joint venture in Houston, USA, aimed at developing a treatment for refractory wounds using spider silk protein, with the goal of obtaining FDA approval and launching the product. The joint venture will be named “MediRok Inc.,” combining the first letters of both companies’ names.

Medicos Biotech will transfer intellectual property and technology to the joint venture, while Rokline will invest 30 million USD in capital and take on responsibilities related to obtaining FDA approval.

The joint venture, MediRok, plans to initiate clinical trials for the spider silk protein-based refractory wound treatment, aiming for FDA approval within the next three years. Additionally, Medicos Biotech is preparing to sell its skin and scalp tissue regeneration cosmetics, Dr. Graft and Spiderma, currently exported to 15 countries, through hospitals in the United States and the Nadro channel of Mckesson, a major Mexican company. This cosmetics business is also planned to be integrated into the joint venture.

Through the joint venture, Medicos Biotech aims to expand its business globally and serve as the R&D center for MediRok.

A representative from Medicos Biotech stated, “The establishment of this joint venture lays the foundation for transforming from a domestic startup to a global company. We expect it to present a new business model for the global commercialization of Korean bio-venture technology.”

Medicos Biotech was previously selected as part of the first cohort in Daejeon for the ‘IBK Changgong’ innovation startup nurturing program operated by Industrial Bank of Korea(IBK).

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