Aquavit plans R&D, production unit in South Korea incubation hub

SINGAPORE--Aquavit Life Sciences, a unit of Aquavit Pharmaceuticals of the United States, said it plans to build a research-and-development and production facility in a science and technology incubation center in South Korea.

The South Korea-based unit said the facility would cover 10,000 square feet in its first phase, but did not disclose its cost. The firm said the plant is designed to meet the highest U.S. and international standards.

In addition to using the facility to expand its own pipeline, Aquavit said it seeks R&D, clinical testing and other partnerships with other South Korean companies and also has plans to expand its foreign sales network over the next few years.

The new facility is to be located in the technology park of Kyungbuk National University in the city of Daegu near South Korea's southern tip.

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