Published date: April 28, 2021
Promising bio venture companies are attracting attention in the over-the-counter market ahead of their listing on the stock market. Engenomics, a protein enzyme development company, and Bioplus, a company specializing in hyaluronic acid fillers. These companies are currently pursuing listing on the KOSDAQ, and they are evaluated as net companies that are producing results with differentiated technology.
According to the securities industry on the 28th, Bioplus filed a preliminary examination for listing on the 26th and started the full-fledged IPO schedule.
Bioplus, technology that eliminates shortcomings of hyaluronic acid filler
Bioplus is entering the global market with technology that supplements the shortcomings of existing hyaluronic acid (HA) fillers. Hyaluronic acid fillers used for skin care have side effects caused by incomplete crosslinking, as well as problems with poor molding power and durability. However, the company developed an MDM filler that improved it with its own technology.
A Bioplus official said, “The MDM filler uses a crosslinking agent called DVS to increase viscoelasticity and dramatically increase the molding power and durability, which were disadvantages. In order to increase the purity of the product, we developed a purification technology of various concentrations and secured safety.” “In order to increase durability, viscoelasticity must be increased, which was considered a challenge in the industry. Only Bioplus has the MDM filler technology in the world, which has solved the problem of existing fillers,” he emphasized.
As the shortcomings of hyaluronic acid fillers have been dramatically improved, love calls are continuing in the global market. According to industry officials, it has advanced into Europe and Asia, and requests for joint production and technology transfer are continuing from local companies. In fact, a Bioplus official said, “We have established local corporations in Europe and China, and recently established a local corporation for production and sales in India.
Performance is also on the rise. Sales from 17 billion won in 2019 increased by 43.5% to about 24.4 billion won last year, and operating profit also grew 85.5% from about 6.9 billion won to about 12.8 billion won during the same period. In particular, overseas sales accounted for 77% of last year’s sales (about 18.8 billion won), so the proportion of exports is high. According to the Korea Health Industry Development Institute, the global filler market is expected to reach $3.3 billion by 2025, growing at an average annual rate of 8.9%. The investment industry is also predicting that the continuous growth of Bioplus will be possible. An investment industry official said, “In the case of bio venture companies, they need to have excellent technology to get attention, but what is as important as technology is whether commercialization is possible. “As the listing is imminent, investors’ interest is growing.” he said.