[Market Focus] L&C Bio Surges Over 12% on News of Megaderm Plus Launch in China

Hits New 52-Week High

KOSDAQ-listed company L&C Bio surged in early trading on December 9. The buying momentum appears to be driven by news that the company has started sales of its human tissue-based medical device, Megaderm Plus, in China.

As of 9:37 a.m. on this day, L&C Bio's stock price was up 12.07% from the previous trading day, reaching 75,200 won. The stock opened at 78,800 won and at one point soared to 80,000 won during the session, marking a new 52-week high.

On this day, L&C Bio announced that its Chinese subsidiary, L&C China, has entered into a strategic partnership with Shanghai Jeya Life for the sales and marketing of Megaderm Plus in China, officially commencing full-scale sales. The two companies have been in discussions since February. L&C China handled administrative procedures for in-hospital sales, such as registering products with provincial medical insurance authorities in China, while Shanghai Jeya Life worked on building a supply network centered on large general hospitals.

L&C China expects to significantly accelerate Megaderm Plus’s entry into the Chinese market by leveraging Shanghai Jeya Life’s extensive sales and marketing experience. Lee Hwancheol, CEO of L&C Bio, stated, "Shanghai Jeya Life has a strong sales channel and network in the Chinese skin graft market, which will greatly contribute to the early market entry and growth of Megaderm Plus. By combining the experience and capabilities of both companies, we aim to create strategic synergy that generates new corporate value."