[Click eStock] "Nextbiomedical, Focus on Expanding the 'Endoscopic Hemostatic Agent' Market"

Kiwoom Securities expressed on the 6th that Nextbiomedical, a therapeutic development company, is expanding its overseas market based on high technological competitiveness and is expected to achieve tangible results next year.

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Nextbiomedical is a bio company that develops and commercializes new therapeutics needed in areas requiring treatment innovation in medical practice. Its main products include the endoscopic hemostatic agent Nexpowder, the vascular embolization agent Nexsphere, and the biodegradable pain embolization agent Nexsphere-F. As of the first quarter of this year, most of its sales were generated from Nexpowder.

Hyunjin Oh, an analyst at Kiwoom Securities, stated, "Nexpowder is easier to use and has a higher hemostatic effect compared to existing clip-type endoscopic hemostatic agents," adding, "It shows high competitiveness in gelation-inducing components compared to competing powder products." Accordingly, he noted, "They have signed a licensing agreement with the global medical device company Metronic to sell in Europe and the United States."

Analyst Oh explained, "Nextbiomedical recently submitted additional data related to the lower gastrointestinal tract (such as the colon) indications of Nexpowder to the U.S. Food and Drug Administration (FDA)," and added, "If colonoscopy is added as an indication, Nexpowder will be able to be supplied actively to the bleeding prevention market as well as for treatment purposes."

He advised, "The prevention market has great growth potential, supported by aggressive marketing from partners and new demand," and emphasized, "Attention should be paid to next year's performance." He further predicted, "Although stock price volatility was high due to lock-up expiration after the initial public offering (IPO), corporate value will be enhanced as performance accelerates next year."