Cellmat Therapeutics "Transforming into a Bio and Medical Device Specialized Company"

[Asia Economy Reporter Hyunseok Yoo] Cellma Therapeutics is transforming into a bio and medical device specialized company. This is a strategic shift from its existing gift certificate and dental material distribution business to high-growth sectors such as advanced bio new drug substance development and medical device manufacturing and distribution.

Cellma Therapeutics announced on the 26th that it held the 39th regular shareholders' meeting on the 25th and passed agenda items including partial amendments to the articles of incorporation and the appointment of new board members. The amended articles of incorporation newly include manufacturing of radiation devices as well as ▲ import, sales, and maintenance of medical-related equipment and facilities ▲ marijuana cultivation, investment, distribution, and manufacturing of applied pharmaceuticals. Existing non-medical businesses such as pet-related businesses were excluded.

Newly appointed inside directors include Heeyoung Lee, director of Plazen; Younghoon Jung, former vice president of Seowoo; Seokhee Hwang, president of the Korea chapter of Kiwanis International; and Jiyoon Baek, outside director of Asia Economy TV.

Researcher Jungok Yoo from the National Policy Research Institute and Wooram Kim, head of domestic and international derivatives external cooperation at Alpha System Financial Investment Consulting, were appointed as new outside directors.

Byunghak Yoon, co-CEO, decided through the regular shareholders' meeting to focus solely on the bio and medical device business as Chief Operating Officer (COO) of the bio sector to strengthen internal capabilities. He emphasized, "With the completion of the articles of incorporation amendment and the new board composition, we expect a full-fledged leap into a specialized bio and medical device company. As various newly promoted medical device manufacturing and distribution fields are becoming more visible, we will be able to secure promising new growth potential."

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