Quro Holdings is showing strong performance. This is interpreted as highlighting the fact that it holds the global exclusive distribution and supply rights for the filler developed by Medicann, a domestic bio company selected as a partner by Saudi Arabia.
As of 9:44 AM on the 20th, Quro Holdings is trading at 370 KRW, up 6.63% compared to the previous day.
According to industry sources, it has been confirmed that Medicann, a domestic bio company, has recently been named as a partner in Saudi Arabia's Saudi International Industrial Village Company (SIIVC). Medicann is expected to receive approximately 470 million USD (about 530 billion KRW) in support.
Medicann is a stem cell culture specialist company with 20 years of experience. Dr. Hee-Young Lee, a medical doctor and president of the Korean Society for Stem Cell Therapy, leads the stem cell research and development as the CEO. Medicann holds more than 30 patents in the stem cell field and also owns key patents for high value-added technologies such as the ‘stem cell centrifugation method and enzyme-free substrate cell separation method.’
Meanwhile, Quro Holdings is known to have signed an exclusive global distribution and supply contract, including domestic markets, for the filler developed by Medicann. This news is believed to be influencing the stock price.
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