[Featured Stock] Senizen, World's First NGS Panel Dedicated to Food Poisoning Bacteria... Leading Global Food Safety

SeniGen, which was listed on the KOSDAQ market through a merger with KB No.23 SPAC, is showing strong performance.

As of 10:07 AM on the 3rd, SeniGen was trading at 8,180 KRW, up 1,150 KRW (16.36%) compared to the previous trading day.

SeniGen is a company that sells analysis, diagnosis, and sterilization solutions for food safety. It possesses various molecular diagnostic technologies such as Polymerase Chain Reaction (PCR) and Next-Generation Sequencing (NGS), which can accurately detect microorganisms like food poisoning bacteria and viruses. While traditional methods took over a week to test bacteria, applying PCR technology reduced analysis time by 80%. Additionally, NGS technology overcame the limitation of difficulty in analyzing large-scale bacteria simultaneously.

SeniGen developed 'Genelix,' a PCR diagnostic product applying customized technology with 100% sensitivity and specificity. It also became the first in the world to develop 'GeNext,' an NGS panel product capable of simultaneously detecting 16 types of food poisoning bacteria from 384 samples. The company supports customers in utilizing molecular diagnostic technology and big data technology across the entire food industry by providing Geneka, an NGS service optimized for the food industry.

Jungwoong Park, CEO of SeniGen, said at a corporate briefing in early September, "Since our establishment, we have continued investing in product development and securing technology. After listing, we will expand product supply to domestic and international markets and strengthen business competitiveness to grow as the leading company in food safety diagnostics."

CEO Park was recently selected as the recipient of the ‘27th KITA Technology Management Award’ by the Korea Industrial Technology Association. Founded in 2005, SeniGen’s CEO Park was highly evaluated for leading innovation in the food safety industry by launching PCR technology-based products and the world’s first NGS panel product dedicated to food poisoning bacteria testing, contributing to public safety, according to the company.

The company also holds a genetic marker discovery platform (HBI), which allows for the rapid provision of customized products to customers, receiving positive evaluations in terms of technological capability.

CEO Park stated, "We expect to turn profitable by 2025," adding, "This is a conservative estimate that does not reflect export performance. If sales growth accelerates as overseas market entry becomes full-scale, the break-even point could come earlier."

According to the securities registration statement, an operating loss of 4.3 billion KRW is expected this year. SeniGen plans to improve profitability by increasing the sales proportion of high-margin products such as Genelix, which have a cost ratio below 50%. CEO Park said, "We will expand sales by entering global markets such as Japan, Malaysia, Singapore, Indonesia, and Vietnam."

According to Research & Markets, the market size of microbial NGS analysis services was 1.02 billion USD in 2020 and is expected to grow to 2.31 billion USD by 2025. The compound annual growth rate (CAGR) is projected to reach 17.8%.