[Featured Stock] Synergy Innovation Rises on Spotlight as Supplier of Microbial Culture Media to Samsung Biologics

[Asia Economy Reporter Minwoo Lee] Synergy Innovation's stock price is on the rise. Amid a global shortage of culture media necessary for manufacturing COVID-19 vaccines, news that the company is supplying microbial culture media to Samsung Biologics has gained attention.

As of 10:20 AM on the 21st, Synergy Innovation's stock price recorded 3,415 KRW, up 7.56% compared to the previous day. The positive news appears to be the supply of microbial culture media to Samsung Biologics, which is reportedly close to securing a contract for the contract manufacturing of Moderna's messenger RNA (mRNA) COVID-19 vaccine.

According to industry sources, Samsung Biologics is expected to finalize the contract for mRNA COVID-19 contract manufacturing with Moderna in Washington, USA, during President Moon Jae-in's visit to the United States for the Korea-US summit. Producing the Moderna vaccine requires having microbial culture facilities. Consequently, there is a global shortage of cell culture media.

In this situation, Synergy Innovation, the leading domestic supplier of microbial culture media and a supplier to Samsung Biologics, Celltrion, Seoul Asan Medical Center, and Samsung Seoul Hospital, is receiving attention.