[Source: Kolmar Korea Holdings]
Kolmar Korea Holdings will acquire a 40 percent stake in Next & Bio, a local biotech platform company with organoid technology, to strengthen its healthcare business as a new growth engine, Kolmar Korea Holdings said on Tuesday.
The latest translation marks the company’s push into bio research and engineering after its series of M&A deals involving CJ Healthcare (currently HK inno. N) in 2018, TKM in 2019 and recent equity investments in Cell In Cells and Novacell Technology.
The organoid, a miniaturized organ generated from stem cells grown in a dish, can be produced to develop artificial organs for humans. The organoid market is valued at about $1 billion worldwide and is expected to grow to about $4 billion in 2027.
Based on Next & Bio’s organoid technology, Kolmar Korea Holdings aims to commercialize culture kits, drug candidate verification platform, individualized oncology drug development, and efficacy testing for treatments of refractory diseases. The company also wants to create synergy with its affiliate HK Inno. N in drug discovery and to advance into regenerative medicine in the long term.
Established in 2018, Next & Bio is known for its unique organoid standardization technology in Korea. It has many patents earned through convergence research between biotechnology and biosystems engineering.
By Yoo Joo-yeon and Minu Kim
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