[Featured Stock] T&R Biofab, Government 3D Printing Promotion... Johnson & Johnson's '3D Bioprinting' Research

[Asia Economy Reporter Hyungsoo Park] T&R Biofab is showing strong performance. It appears that the stock price was influenced by the government's announcement of a promotion plan to grow the 3D printing technology market to a scale of 1 trillion won.

At 9:26 a.m. on the 23rd, T&R Biofab was trading at 13,550 won, up 6.69% from the previous day.

Due to the impact of the novel coronavirus disease (COVID-19), non-face-to-face consumption has expanded along with increased demand for small quantities and multiple items. Securing core materials and technologies for 3D printing is important.

Prime Minister Chung Sye-kyun presided over the '12th Information and Communication Strategy Committee' at the Government Seoul Office in Jongno-gu, Seoul. The '2nd Basic Plan for the Promotion of the 3D Printing Industry,' led by the Ministry of Science and ICT, was reviewed and approved.

The global 3D printing industry continues solid growth centered on high-value markets such as aerospace and aviation. According to the professional market research firm Wohlers Associates, the 3D printing market, which was valued at $9.7 billion (approximately 11 trillion won) in 2018, is expected to grow to $35.5 billion (approximately 43 trillion won) by 2024. The government is promoting technology demonstration in promising fields such as medical devices and construction to expand the use of 3D printing.

Kiwoom Securities described T&R Biofab as the domestic leader in 3D bio printing. In 2014, T&R Biofab became the first in Korea to receive approval for biodegradable medical devices based on 3D printing. It has obtained Class 4 medical device approvals for a total of 11 types of artificial scaffolds. Currently, product approvals have been completed in Vietnam, Thailand, and the Philippines. This year, it acquired CE certification for artificial scaffolds used for craniofacial and nasal septum deviation correction. As of last year, it holds over 15,000 clinical cases of 3D printing-based biodegradable scaffolds and a sales network covering 116 hospitals and clinics domestically.

Kim Sang-pyo, a researcher at Kiwoom Securities, explained, "This year, based on accumulated clinical data and sales networks, sales are expected to increase significantly in the biodegradable artificial scaffold business sector. We are conducting joint research with Seoul National University College of Medicine on 3D bio-printed cardiomyocytes to be used for drug cardiotoxicity evaluation at the preclinical stage."

He added, "In February this year, we signed a joint research contract with Ethicon, a subsidiary of Johnson & Johnson's medical device division, on bio-tissue scaffolds such as artificial skin, building a global reference."