Samyang Biopharm Corp. announced on Nov. 2 that it has succeeded in commercializing the SurgiGuard, an absorbable hemostat that includes oxidized regenerated cellulose as its main ingredient.
It is an oxidative regeneration cellulose hemostat that is frequently used in surgery to prevent bleeding. Its global market is worth 300 billion won (US$263.04 million), and only foreign products have been used until now.
Samyang Biopharm has carried out research and development for four years and proved the same level of hemostatic effects with foreign products. Also, it has ensured a product safety through biocompatibility and monovalence tests conducted by a global medical device research organization NAMSA.
After receiving approval from the Ministry of Food and Drug Safety in March, the company signed an agreement on exclusive supply in Korea with Hanmi Medicare Co. in June. Currently, it is discussing the supply of the product with global medical device companies in the U.S. and Europe.
An official from Samyang Biopharm said, “The fact that the SurgiGuard is making inroads into the global market has proved our technology in absorptive materials once again. In a market completely dominated by foreign products, we will increase the market share of the domestic product.”