[Special Stock] Miko, Subsidiary Promotes US Export of COVID-19 Rapid Diagnostic Equipment... Expecting Emergency Use Authorization

[Asia Economy Reporter Hyungsoo Park] Miko is showing strong performance. Its subsidiary, MikobioMed, has developed small equipment necessary for COVID-19 RT-PCR testing, including the VERI-Q PCR 316 and VERI-Q Prep M16, as well as diagnostic reagents used with these devices. On January 29, it applied for emergency use authorization from the Korea Disease Control and Prevention Agency.

As of 2:44 PM on the 6th, Miko is trading at 7,750 KRW, up 7.64% from the previous day.

It is interpreted that the increase was amplified as diagnostic equipment-related stocks such as Seegene and Sugentech all hit the daily upper limit.

The products developed by MikobioMed weigh only 4 kg, making them easy to carry. Considering that foreign companies' products currently used by testing institutions weigh over 30 kg, the weight has been drastically reduced. The nucleic acid extraction method has also been improved, reducing the required time to one-third compared to existing products. In Korea, it has been approved for use with diagnostic reagents for malaria, tuberculosis, and dengue fever. In Europe, it has received CE certification for 21 diseases.

MikobioMed's products are also attracting attention overseas. On the 26th of last month, the Bangladesh government installed the products at Dhaka International Airport. The Bangladesh government plans to purchase an additional 50 units to use in preventing community infections. Exports are also being promoted to the United States, China, Hong Kong, and other countries.