MedPacto "Confident in Achieving Sales Targets to Maintain Listing Requirements"

MedPacto is promoting businesses related to bioinformatics to secure sales for next year.

MedPacto announced on the 20th that it held a meeting with directors and related executives at its headquarters on the 19th to discuss measures to secure sales for next year. The five-year grace period after listing will end. From next year, it must secure annual sales of more than 3 billion KRW.

MedPacto plans to develop biological data analysis and related services such as genomics that can utilize existing research achievements, as well as pharmaceutical and health functional food distribution and sales businesses.

MedPacto CEO Kim Sung-jin is a world-leading expert in the field of cancer genomics. He was the first Korean and the fifth in the world to complete the human genome map and was the first in the world to identify deletions and mutations of the TGF-β (transforming growth factor) receptor gene in cancer cells.

A MedPacto official said, "Apart from securing sales, the company's essence of new drug development will be maintained," and added, "We have already completed the formation of internal business organizations and contracts with external collaboration partners, and initial order negotiations are also progressing significantly, so the sales target for next year to meet the listing maintenance requirements will be easily achieved."

MedPacto possesses innovative new drug pipelines such as the TGF-β inhibitor anticancer drugs ‘Bactosertib’ and ‘TME-DP’ and the bone disease treatment drug 'MP2021.' It has secured excellent data from combination clinical trials with global immuno-oncology drugs and its own preclinical studies, and is promoting phase 2 clinical trials and technology exports.