PlasmaTech Biopharmaceuticals, Inc., a biopharmaceutical company advancing protein biologic therapies and oncology supportive care products, said that its Korean marketing partner, Hanmi Pharmaceutical Co., Ltd. has received marketing approval in Korea from the country’s Ministry of Food and Drug Safety (MFDS) and the Korea Testing & Research Institute (KTR) for MuGard, its oncology supportive-care treatment for the management of oral mucositis. Under the terms of the previously announced marketing agreement, Hanmi will import MuGard from the U.S. and marketing will commence. Hanmi intends to market MuGard in Korea under the trade name Mucogard.

Commenting on the news, Steven Rouhandeh, executive chairman of PlasmaTech Bio said, “Hanmi receiving marketing approval is a critical step in the launch of MuGard in Korea and complements our broad commercialization strategy of MuGard in the global market. We look forward to working with them on next steps, including arrangement of commercial product, and leveraging their expertise and extensive distribution throughout the region.”

“We are pleased with the continued progress being made on commercializing MuGard in Korea. We remain on track and look forward to providing doctors and patients in Korea access to MuGard, an effective treatment for oral mucositis, in 2015,” said Dr. Gwan Sun Lee, president and chief executive officer, Hanmi.