Nanobrick Signs Regular Supply Contract with Embid... Bio-Material Sales Growth Accelerates

[Asia Economy Reporter Hyungsoo Park] Nanobrick, a specialized advanced nano new materials company, announced on the 7th that it has signed a regular supply contract for M-Bead with a leading domestic molecular diagnostics company.

Nanobrick's M-Bead is a magnetic bead, a core material of nucleic acid extraction automation equipment. It is a high value-added material widely used in disease diagnosis and new drug research. Although nucleic acid extraction automation devices have been commercialized by domestic companies, magnetic beads are still dependent on imports from countries such as Germany.

Nanobrick is gradually expanding the supply of M-Bead to more than 70 domestic and international companies. This is the first time a regular supply contract has been signed. Nanobrick succeeded in securing this regular supply contract based on uniform quality and price competitiveness through mass production.

Nanobrick has secured a stable sales channel in the bio-materials sector and laid the groundwork to aggressively market to domestic and international molecular diagnostics automation equipment companies.

A Nanobrick official explained, "M-Bead has uniform particle size and minimal performance variation between lots," adding, "M-Bead has been officially adopted as one of the standard magnetic beads for domestic molecular diagnostics automation equipment." He continued, "It is highly significant that the product has passed the strict quality standards of the conservative bio-reagent market, establishing product reliability and overcoming overseas dependence."

Joo Jae-hyun, CEO of Nanobrick, said, "Following our existing security business, we have created momentum for the bio-materials business to grow in earnest," emphasizing industrial collaboration by stating, "To lead the global molecular diagnostics market, it is desirable to accelerate the development of differentiated new products through cooperation between diagnostic equipment manufacturers and material suppliers."

He added, "Nanobrick possesses the world's highest level of magnetic bead production scale and quality system," and stated, "Based on mass production quality control capabilities, we plan to expand our business area to include ‘bio-extraction reagent OEM (Original Equipment Manufacturing) and ODM (Original Design Manufacturing)’ through cooperation with client companies."

Meanwhile, nucleic acid extraction automation equipment has been widely distributed worldwide due to the COVID-19 pandemic, and the market for magnetic beads, a core reagent, is expected to expand further. According to the global market research firm Markets and Markets, the market size for nucleic acid extraction using magnetic beads is expected to reach $1.243 billion (approximately 1.5 trillion KRW) in 2023.