[Asia Economy Reporter Hyunseok Yoo] Cellumed is accelerating the development of mRNA (messenger ribonucleic acid) production enzymes and has secured 15 billion KRW in funding to expand its bio-business investments.
Cellumed announced on the 3rd that the payment for convertible bonds (CB) worth 15 billion KRW has been completed. The secured funds will be used for ▲M&A to create synergy in the bio-business and subsidiaries' environmental and facility sectors ▲investment in facilities and operating funds in the growth factor field ▲investment in the mRNA sector.
Cellumed plans to strengthen its future strategic business capabilities primarily through M&A. Alongside its existing bio and growth factor sectors, the company intends to actively pursue equity investments and acquisitions of companies that can create synergy with its subsidiaries Hwangyeong ENG and Ins Green, which operate in the facility and environmental plant sectors.
A company official stated, “We are reviewing proposals from companies with proven technology and solid management performance,” adding, “We expect that strengthening competitiveness through M&A will not only enhance competitiveness but also increase sales and improve profits.”
Investment in the core growth factor sector will also be intensified. Cellumed currently produces recombinant proteins used as raw materials for pharmaceuticals and cosmetics by establishing a recombinant protein production system, including the bone graft material ‘Rapugen BMP2.’ The strategy is to achieve economies of scale by expanding investment in production facilities and operating funds in the growth factor sector.
Additionally, the company plans to promote investment in the COVID-19-related mRNA field. Cellumed recently signed an agreement with iGene for joint research and commercialization of COVID-19 mRNA and is accelerating the production of high-quality ‘mRNA production enzymes.’ Once enzyme development is completed, both companies will jointly pursue commercialization, including developing mass production processes and establishing KGMP facilities for five types of ‘mRNA production enzymes.’ Cellumed is actively considering investments such as expanding related research facilities and securing specialized personnel to speed up cooperation with iGene.
A company representative emphasized, “Through this institutional investor funding, we will focus on full-scale mRNA business activation, expansion of production facilities, and recruitment of research personnel to enhance corporate value,” adding, “In particular, by pursuing strategic M&A, we plan to diversify Cellumed’s bio-business portfolio, which is expected to serve as a catalyst for both external growth and profit improvement.”
Meanwhile, institutional investors such as High Value Life Science Fund and BNS Investment Advisory participated in this CB investment. The bond’s nominal interest rate and maturity interest rate are 2% and 5%, respectively.
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