[Click eStock] 23andMe Nasdaq Listing... EDGC Valuation Upgrade Expected

[Asia Economy Reporter Hyunseok Yoo] KTB Investment & Securities analyzed on the 4th that EDGC's valuation is expected to rise following the Nasdaq listing of 23andMe, a genome analysis specialist company. No investment opinion or target price was provided.

EDGC is a company specializing in genome analysis and liquid biopsy. Its core technology is cfDNA-based liquid biopsy technology, and EDGC along with Illumina (Grail) are the only companies with early cancer diagnosis technology before stage 1. Additionally, it holds the largest genome data in Korea and is a company capable of commercial utilization.

23andMe, leading the DTC genetic testing market, is scheduled to be listed on Nasdaq in Q2 through a Virgin Group SPAC. 23andMe is a genome testing specialist company that supplies B2C genetic testing kits for home use. Customers can understand their own DNA, expected medical history, and ancestry.

Jae-yoon Kim, a researcher at KTB Investment & Securities, explained, "The current market capitalization is at a level explainable by the core business of liquid biopsy alone, but with the Nasdaq listing of genome analysis specialist company 23andMe in Q2, it is expected that the value of EDGC's genome data will be reflected in the stock price." He added, "It is necessary to compare EDGC, which holds 2 million genome data, with 23andMe, which holds 10 million genome data and is scheduled to be listed on Nasdaq in Q2 with a valuation of 4 trillion KRW."

Researcher Kim emphasized the need to focus on the value of the genome data held by EDGC. He said, "Genome data is a direct answer sheet revealing the relationship between specific genes and health, a gold mine for new drug development, and a bank for health functional foods and food development," adding, "In other words, EDGC's genome data is an asset directly linked to corporate value."