Amicogen announced on the 15th that it has decided to sell all shares of its subsidiary SkinMed to secure liquidity and improve its financial structure.
An Amicogen representative stated, "The scale of this SkinMed sale is 2,360,714 common shares, representing a 37.3% stake, with the sale price approximately 5.5 billion KRW. The sale is expected to be completed on the 18th of this month, and the sale price is about 80% higher than the book value." He added, "This sale is intended to secure cash liquidity, and the proceeds will be used to improve the financial structure through operating funds and repayment of borrowings."
Amicogen is currently conducting sales and liquidation of subsidiaries as part of restructuring non-core business sectors. Through this business restructuring, Amicogen aims to secure liquidity and further strengthen its existing core businesses while focusing its capabilities on new businesses such as bio materials, substrates, and resin.
The company also plans to strengthen its existing core businesses. The Enzyme and Biopharmaceutical Business Division plans to maintain its technological competitive edge in the key raw materials for cephalosporin antibiotics, 7-ACA and 7-ADCA, and expand its market globally. Additionally, it will focus on the early commercialization of over 10 cephalosporin antibiotic (Green API) enzyme technologies currently undergoing approval and testing.
Alongside this, Amicogen plans to accelerate the expansion and commercialization of new pipelines, including the development of ligands essential for bio-pharmaceutical process enzymes and affinity resin development, as well as the development of hyaluronidase for subcutaneous injection.
The Healthcare Business Division will focus on expanding the global market for enzyme-based natural health materials, developing new materials such as those for brain health, anti-obesity, and anti-aging to address unmet market demands, thereby strengthening global healthcare material competitiveness and maximizing sales.
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