Published date: November 26th, 2021
Interview with CEO Jeong Hyun-kyu.
“Looking forward to signing a contract this year or the first half of next year”.
“We are implementing the plan that we have been preparing for 10 years without any mistake. Now all we have to do is harvest the seeds we have sown as fruits.”
Jeong Hyun-kyu CEO of BioPlus(21,950-0.90%), who met at Songpa headquarters in Seoul on the 16th, said, “We have completed preparations for the new business.” BioPlus’s new businesses include the development of next-generation bio-products, the construction of new factories, and the Chinese franchise hospital business. It also plans to continue to release new bio-material-based products, which are the company’s main products.
The first thing that became visible is “Blad Care,” a treatment for cystitis. Blad Care received an item license from the Ministry of Food and Drug Safety on the 15th of this month. The damaged glycosaminoglycan (GAG) layer of the bladder wall is reconstructed with a hyaluronic acid (HA) composite material. The GAG layer serves to protect the bladder from waste substances such as urine. BioPlus will release Blad Care in earnest next year.
Brad Care’s foundation is “MDM Tech,” a platform technology of BioPlus. MDM Tech strengthens the crosslinking strength between HA molecules through “DVS,” an independent crosslinking material that connects molecules and molecules. It was applied to the HA filler to increase viscoelasticity and cohesion.
BioPlus has also developed, produced, and sold anti-adhesion drugs with MDM Tech. It is a product that prevents it by putting it between tissues that can stick to each other after surgery. Artificial biological breasts and artificial biological joints are also being newly developed.
The company promotes the technology transfer of these products. Anti-adhesion drugs are discussing the transfer of rights to overseas regions with a global company. It is expected that the contract will be able to be signed within this year or in the first half of next year. Some are discussing the transfer of artificial biological breasts and artificial biological joint technologies. It is expected that a formal contract will be possible in the second half of next year when the current full-time award is completed in February next year and the first phase in Korea is expected to be approved.
It will also develop next-generation bio-products as future food. Earlier this month, BioPlus made a strategic equity investment worth 3 billion won in Noblegen. With Noblegen’s extensive antiviral candidate (pipe) “NVG308, the company plans to develop a wide range of virus treatments for viral skin diseases such as shingles and simple herpes zoster. Last month, through the acquisition of a stake in Ubiprotein, it also secured half-life augmented platform technology for protein drugs. Through this, continuous obesity and diabetes treatments are developed.
It’s also being expanded. It is building a GMP factory in Eumseong, Chungcheongbuk-do. It has invested about 200 billion won to secure a 40,000㎡ site. It is expected to be completed by 2024. CEO Chung said, “The company’s existing bio-material production facilities such as HA fillers and anti-adhesion drugs will be moved here,” adding, “The production capacity (KEPA) of bio-materials will increase more than 10 times compared to the previous one.” It will also build a new plant, Glucagon-like peptide (GLP-1) production facility for obesity and diabetes treatments.
Hainan decided to be the base for entering China. China selected Hainan as a candidate for a free trade port to replace Hong Kong last year. BioPlus is promoting franchise businesses such as duty-free shops and beauty plastic surgery hospitals here.
The opening of the cosmetic plastic surgery hospital has been visualized by the end of this year. Its strategy is to target the “blue ocean” market with surgeries such as breast and vaginal plastic surgery that are not allowed in China. BioPlus plans to open 30 branches across China by 2024 as its first Hainan store. CEO Jeong expects annual sales of the first store to be at least 10 billion won. It is expected to generate 300 billion won in annual sales by opening 30 branches.
Reporter Lee Dohee.