Dermafirm Signs an MOU to Develop High-potency Derma Cosmetics and Strengthen Derma Cosmetics Business Cooperation

Expect to create synergy effects such as global market expansion through joint development cooperation

SEOUL, South Korea, Oct. 6, 2022 /PRNewswire/ -- Dermafirm, Global Derma Cosmetics Company (CEO : Han Yoon-Jae) signed a working agreement (MOU) with Oracle Medical Group (Noh Young-woo) for joint research and development of medical cosmetics at Dermafirm's headquarter located in Gangnam-gu, Seoul, on 29 October.

Oracle Medical Group, which has signed a joint development agreement with Dermafirm, is a global medical group with unrivaled dermatology channels in Korea, overseas networks, skin clinical data and know-how. In addition, it has a clinical trial center and the best dermatology medical staff in Korea.

Following the signing of the agreement, the two companies will jointly develop medical cosmetics based on Dermafirm's cosmetic materials and formulation R&D capabilities and Oracle Medical Group's extensive know-how and experience in skin clinical. In addition, efficacy verification of the developed product will be carried out through the Oracle Skin Clinical Center, and the final domestic and international sales will be conducted through Dermafirm's global sales channels.

Through this joint research and development agreement, Oracle, with the skin clinical experience and know-how of Dermafirm and K-Medical's representative dermatology hospital, which has the best cosmetic R&D capabilities and global sales network, will continue to share information, and collaborate to further consolidate its presence in the global market.

Oracle President Noh Young-woo said, "Based on Oracle Medical Group's experience in dermatology and plastic surgery, we are excited to be able to work together on the development of cosmetics with Dermafirm, the leading brand of Derma Cosmetics." "In collaboration with Dermafirm, which has excellent technology, we plan to launch a groundbreaking medical cosmetic product to expand the market in the world." He replied.

Oracle President Noh Young-woo said, "Based on Oracle Medical Group's rich experience in dermatology and plastic surgery, we are excited to be able to work together on the development of cosmetics with Dermafirm, the leading brand of Derma Cosmetics."

"In collaboration with Dermafirm, which has excellent technology, we plan to launch a groundbreaking medical cosmetic product to expand the market in the world." He replied.

Mr. Han Yoon-Jae, CEO of Dermafirm, said, "Through this joint development agreement, we are pleased to expect that Oracle's collaboration with Dermafirm which is global leading derma cosmetic brand, and the skin clinical data of K-Medical's representative dermatology hospital will enable us to present high-potency derma cosmetics to consumers through the synergy of mutual technologies."