Korea's No. 1 skin graft firm readies inroads plus IPO in China
이 글자크기로 변경됩니다.
(예시) 가장 빠른 뉴스가 있고 다양한 정보, 쌍방향 소통이 숨쉬는 다음뉴스를 만나보세요. 다음뉴스는 국내외 주요이슈와 실시간 속보, 문화생활 및 다양한 분야의 뉴스를 입체적으로 전달하고 있습니다.
The tissue engineering company established a joint venture in China last year with China International Capital Corp. (CICC) and attracted $200 million to build a local production center in Kunshan, Jiangsu Province. Lee said local marketing of MegaDerm is expected to begin timed with the site completion and regulatory clearance about 15 months later. He also said sales are projected to be 300 billion won ($270 million) in the first year and annual sales will soon surpass 1 trillion won in China, where patients still rely on xenograft, skin taken from an animal source.
MegaDerm uses donated human skin that undergoes a proprietary process to remove the epidermis and the cells that can lead to tissue rejection.
Lee said he will push for a 10 trillion won initial public offering (IPO) deal for joint venture L&C Bio China in 2023 in cooperation with CICC.
CICC is the largest investment institution in China established in 1995 by China Construction Bank and Morgan Stanley. The institution was once led by Levin Zhu, the eldest son of Zhu Rongji, a former Premier of the People's Republic of China. Most of expenses for launching L&C Bio products will be covered by CICC, Lee said.
L&C Bio is planning to launch MegaCarti, a cartilage treatment, as a new growth driver in Korea. Once injected, the cartilage treatment derived from human sources can work over the patient’s lifetime unlike artificial joints, Lee said.
Preclinical data amount to 3,000 cases and clinical trials are underway in 90 patients at Severance Hospital, Korea University Anam Hospital, Gangnam Severance Hospital, and Ilsan Hospital.
The domestic degenerative arthritis care market is valued at 1.3 trillion won, and the Chinese market is 20 times larger, Lee added.
[ⓒ Maeil Business Newspaper & mk.co.kr, All rights reserved]
Copyright © 매일경제 & mk.co.kr. 무단 전재, 재배포 및 AI학습 이용 금지
- Crypto investors in Korea exposed to frauds amid absence of rules and watchdog - Pulse by Maeil Business News Korea
- Cyworld Z readies for restart with username search and virtual cash refund - Pulse by Maeil Business News Korea
- Lotte Chemical’s Q1 income projected to have exceeded full 2020 earnings - Pulse by Maeil Business News Korea
- S. Korea assures it has enough vaccines to achieve herd immunity by November - Pulse by Maeil Business News Korea
- Celltrion sons join board of holding firms to bolster generational shift - Pulse by Maeil Business News Korea
- 강경준, 상간남 피소…사랑꾼 이미지 타격 [MK픽] - 스타투데이
- 화이트칼라 시대는 갔다...블루칼라’의 역습 [스페셜리포트]
- ‘결혼 4주년’ 맞은 우혜림, 임신 14주차 땡콩이 엄마! “오늘은 둘만 데이트” - MK스포츠
- 이찬원, 이태원 참사에 "노래 못해요" 했다가 봉변 당했다 - 스타투데이
- 양희은·양희경 자매, 오늘(4일) 모친상 - 스타투데이