Singapore, Feb. 6 -- South Korea-based startup Sky Labs Inc. has entered intoan exclusive distribution agreement with Otsuka Pharmaceutical Co. for thering-type blood pressure monitor, 'CART BP pro', in the Japanese hospital and clinic market.

This agreement follows the memorandum of understanding (MoU) signed between the two companies in December 2024. Sky Labs initially explored global expansion opportunities through Korea Otsuka Pharmaceutical, and the introduction by the Korean affiliate led to formal discussions and negotiations with Otsuka's headquarters. Such a collaboration represents a successful open-innovation case in which a Korean venture company leveraged the domestic subsidiary of a multinational corporation as a bridge to...