SEOUL, South Korea, March 17, 2019 /PRNewswire/ -- KIMES 2019 COEX - Local authorities have begun their official criminal investigation of a Korean manufacturer, U-BioMed.
U-BioMed has been manufacturing and selling counterfeit products under the trademark of AQUAGOLD® fine touch™, owned by Aquavit Pharmaceuticals, Inc. and its Korean subsidiary, Aquavit Life Sciences, Inc.
Authorities have seized the products from U-BioMed's booth in the 2019 KIMES convention as evidence and interrogated their sales representatives. U-BioMed was displaying AQUAGOLD® trademarks, videos and counterfeit products during the show, and the police have identified a doctor who purchased counterfeit AQUAGOLD® at the booth about an hour prior to the interrogation.
U-BioMed is finally under the scrutiny of law enforcement. Police requested that U-BioMed's CEO, Eum Nyun Shik, who also goes by the alias Corea Eum, appear at the police station earlier today. When he failed to make an appearance, a sales representative was escorted to the police station in his absence.
Since the launch of AQUAGOLD® fine touch™ with its official web site www.AQUAGOLDFINETOUCH.com, AQUAGOLD® products have been adored by many celebrities and media outlets worldwide. U-BioMed has been utilizing both the internet and social media to ride the fame of AQUAGOLD®, claiming itself as the manufacturer and inventor. Confusingly enough, they have also been falsely claiming that they are contract manufacturing AQUAGOLD® as a private label.
The time has come for such damaging and dangerous acts to come to an end. AQUAGOLD® fine touch™ is an FDA registered, CE Marked, KFDA registered medical device intended to micro-inject valuable drugs or biologics into the skin. Making a cheap counterfeit without GMP standard or quality control threatens public safety and increases the risks of physician liability.
"It is a relief to know that the police have made an action towards justice and public safety," said Sobin Chang, CEO of Aquavit. "We will ensure the court's injunctive order is applied into global commerce and trade and will work closely with Interpol in Europe as well."
U-BioMed has, thus far, received millions of dollars in government funding and have used taxpayer's money for its operation in selling the counterfeits at conventions and through internet marketing.
About AQUAGOLD® fine touch™
AQUAGOLD® fine touch™ is a first of its kind, patented repeated motion microchannel delivery method delivering approximately 1,200 to 2,000 microinjections per minute to deliver bioactive compounds intradermally. The device is designed to painlessly and effectively deliver bioactive compounds into the skin, avoiding common complications associated with traditional techniques. AQUAGOLD® fine touch™ is manufactured and distributed by Aquavit Pharmaceuticals, Inc. and its subsidiaries.
The largest trade show of the year - Korean International Medical & Hospital Equipment Show (KIMES) provides visitors and exhibitors alike with the opportunity to identify and confirm the great potential and prospect of the future medical industry as well as the latest medical industry trend. Over 1,200 domestic and overseas manufacturers showcase new technology and new products. KIMES is the venue for the communication to present that latest medical information and technology to keep up with the fast developing medical market.
About Aquavit Pharmaceuticals, Inc.
Aquavit Pharmaceuticals, Inc. is a high-tech pharmaceutical company that provides a comprehensive range of innovative pharmaceutical, biotech and medical device technologies. Aquavit Pharmaceuticals, Inc. focuses on personalized medicine to improve patients' health, maximize the efficiency of our medical community, and support the pharmacoeconomics of payers.
SOURCE Aquavit Pharmaceuticals, Inc.