Viragen licenses Multiferon to Korea's Kuhnil Pharm

New York, Dec. 6 - Viragen, Inc. said it has licensed Multiferon (multi-subtype, natural human alpha interferon) to Seoul-based Kuhnil Pharm Co. Ltd. for distribution in Korea.

Viragen will receive a "small" upfront fee while Kuhnil Pharm will obtain regulatory approval for the compound and have exclusive marketing rights in Korea for 10 years.

"We are very excited to have the opportunity to position Multiferon in South Korea as a unique natural alpha interferon with the promise to provide an effective therapy for hepatitis B, hepatitis C and certain cancers," said Kim Young, chief executive officer of Kuhnil, in a news release.

"The South Korean alpha interferon market currently exceeds $6 million in annual sales, and we expect Multiferon will play an important role and compete favorably against other alpha interferon regimens."

He added that growth potential for alpha interferon is significant.

Viragen is a Plantation, Fla., biotechnology company. Its Multiferon product is a highly purified, multi-subtype, natural human alpha interferon.

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