CreoSG appoints Sangkyun Lee as new CEO, acquires 1.03 million shares... "Confidence in new drug pipeline"

CreosG (formerly known as Qurocom) has embarked on a business restructuring focused on bio after changing its company name, with newly appointed CEO Lee Sang-gyun acquiring shares and expressing confidence in the achievements of new drug development. CreosG recently launched the universal vaccine development platform ‘SUV-MAP’ and is accelerating the development of the world’s first AIDS vaccine, ‘SAV001’.

CreosG announced on the 23rd that CEO Lee Sang-gyun purchased 1.03 million common shares on the open market. The total purchase amount is approximately 500 million KRW.

A company official stated, “CEO Lee, who has been in office for less than a month, took the initiative to acquire shares, which not only demonstrates responsible management but also expresses confidence in CreosG’s ongoing new drug development projects. Especially since CreosG’s bio business results are expected to become visible starting this year, we judged the current stock price to be undervalued and acquired shares through open market purchases.”

Since 2006, CEO Lee has overseen new drug development at the subsidiary ImmunoVaxBio. He independently developed the vaccine development platform ‘SUV-MAP,’ which can produce vaccine candidates within five months using VSV vector technology. The platform was validated by successfully completing preclinical trials during the development of vaccines for viruses such as COVID-19 and MERS.

Following CEO Lee’s appointment, CreosG is also accelerating the commercialization of the world’s first AIDS vaccine. Recently, the company signed a contract with a global Contract Development and Manufacturing Organization (CDMO) to produce vaccine samples for the U.S. Phase 2 clinical trial and has commenced trial production.

A company representative emphasized, “With CEO Lee, who has overseen new drug development at the subsidiary since 2006, taking the lead, we expect tangible results related to new drug development to become visible this year. In addition to accelerating the development of existing new drug pipelines, we will promote business cooperation such as joint research and development with domestic and international bio companies by leveraging CEO Lee’s extensive network.”

CEO Lee was involved in most research and development (R&D) projects at LG Life Sciences’ Technology Research Institute and has participated in national projects led by the Ministry of Food and Drug Safety, the Ministry of Health and Welfare, and the Korea Disease Control and Prevention Agency. In addition to his R&D capabilities, he maintains close networks with leading domestic bio companies such as Alteogen and LegoChem Biosciences.