INCHEON, South Korea--(BUSINESS WIRE)--MiracleIN, a Korean venture company that developed electrolytic technology for eco-friendly water treatment, announced that it signed on July 31, an agreement with Ajou University College of Pharmacy for jointly developing medicine for preventing infectious diseases caused by various viruses and bacteria.
The project will be led by Prof. Lee Joo-yeoun and Prof. Kim Su-dong at Ajou University College of Pharmacy based on MiracleIN's composition under development.
When this new drug is developed, Ajou University’s College of Pharmacy will register it with Korea’s Ministry of Food, Drug and Safety, and then seek to register with the U.S. FDA after developing technologies in conjunction with University of Maryland in the United States.
A scientist at Ajou University College of Pharmacy said, “As the substance under development is known to be effective for spatial sterilization and sterilization of various facilities at medical institutions, it will be helpful for protecting health and safety of the people in case infectious diseases, such as novel swine-origin influenza and Middle East respiratory syndrome (MERS), occur.”
Meanwhile, MiracleIN is currently developing eco-friendly water treatment technology in collaboration with Smart Convergence Technology Research Center (Prof. Lee Joo-yeoun) at Ajou University, and they will apply it to hospitals, power plants and ballast water. Scientists have already completed test of the technology for pools. With strong sterilizing power, the technology is an eco-friendly sterilizing system that has neither smell of bleacher nor poison. It also causes no secondary pollution of environment when it is emitted.
In addition, MiracleIN has concluded an MOU with POSCO ICT for jointly developing next generation water treatment technology.
Based on its subsidiary in Dallas, Texas, MiracleIN is seeking to expand into global market of pools and treatment of underground water estimated to reach KRW20 trillion a year.
For more information about MiracleIN, visit http://www.miracleingroup.com/kr/ .