GC Green Cross Wellbeing is set to enter the obesity and aesthetics market with the introduction of a fat-reducing injection that is nearing Phase 3 clinical trials with the U.S. Food and Drug Administration (FDA). This move targets the growing demand for body shaping following the rise of glucagon-like peptide-1 (GLP-1) obesity treatments.
On June 29, GC Green Cross Wellbeing announced that it has signed a licensing agreement with the biotech company Raziel Therapeutics for the commercialization of the next-generation localized fat-reducing injection in South Korea.
The contract signing took place on June 25 at the Westin South Coast Plaza in Costa Mesa, California. Key executives from both companies attended the event, including Kim Sang-hyun, CEO of GC Green Cross Wellbeing, and Philip Shyson, Chairman of Raziel's Board, along with CEO Raziel Alon Blumenfeld.
This agreement grants GC Green Cross Wellbeing exclusive rights to develop and commercialize the next-generation localized fat-reducing injection in South Korea, as it prepares to enter Phase 3 clinical trials with the FDA.
The injection is designed to target fat reduction in specific areas of the body. It aims to expand beyond existing treatments focused on facial contouring, such as reducing submental fat, to include various areas like the abdomen and arms. Raziel highlights the injection's unique feature of potentially eliminating fat cells with just a single administration.
Raziel has confirmed the efficacy and safety of the treatment through Phase 2 clinical trials and is currently finalizing discussions with the FDA regarding the design of the Phase 3 trials, expected to commence later this year.
The recent proliferation of GLP-1-based obesity treatments has led to an increased demand for body shaping following weight loss, contributing to the expansion of the related aesthetics market. This introduction is seen as a strategic response to these market changes.
In addition to the licensing agreement, GC Green Cross Wellbeing is making a strategic investment in Raziel and plans to enhance collaboration throughout the global commercialization process. The company has established a foundation for its obesity treatment business through the distribution of 'Mount Jaro' and has strengthened its related pipeline with this agreement. The sales impact of Mount Jaro resulted in 49.1 billion won in revenue in the first quarter of this year.
Kim Sang-hyun, CEO of GC Green Cross Wellbeing, stated, "We will swiftly advance domestic clinical and approval processes in line with the global development schedule, including the FDA Phase 3 trials, to enhance our competitiveness in the body contouring market."
* This article has been translated by AI.
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