[Asia Economy Reporter Hyunseok Yoo] Jinwon Life Sciences is showing strong performance. This appears to be influenced by an analysis valuing the 'Plasmid DNA' production technology at 4 trillion KRW.
As of 9:30 AM on the 14th, Jinwon Life Sciences was trading at 21,900 KRW, up 9.23% (1,850 KRW) compared to the previous trading day.
'Plasmid DNA' is a bio-material produced through Escherichia coli fermentation. It is used as a raw material for mRNA (messenger ribonucleic acid) vaccines, as well as adenovirus, CAR-T gene therapies, gene editing tools, and DNA vaccines and therapeutics.
According to a recent media report, VGXI, Jinwon Life Sciences' 100% US subsidiary, plans to complete the expansion of a new contract manufacturing organization (CMO) plant for 'Plasmid DNA' production in Texas in the fourth quarter. Once the plant expansion is completed, VGXI's production scale will increase tenfold from 500ℓ to 5,000ℓ. The production capacity is expected to increase about 20 times due to leverage effects.
VGXI plans to further expand the Plasmid DNA production scale to 7,500ℓ through a second expansion by the end of 2024, increasing current production capacity up to 40 times.
Meanwhile, Aldevron, a competitor in the Plasmid DNA CMO market, was valued at approximately 4 trillion KRW in 2019.
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