[Featured Stocks] EDGC and BioToxTech Rise on Spotlighted Relationship with SolGent, No.1 Producer of COVID-19 Diagnostic Reagents

[Asia Economy Reporter Minwoo Lee] Molecular diagnostics specialist Solgent's announcement of securing the world's largest production capacity for novel coronavirus (COVID-19) diagnostic kits has led to a rise in the stock prices of related companies such as EDGC (Eone Diagnomics Genome Center) and Biotoxtech.

As of 2:10 PM on the 10th, EDGC's stock price surged by the maximum allowable limit of 29.87% compared to the previous day, reaching 15,000 KRW. The positive market reaction appears to be driven by news that Solgent, a molecular diagnostics affiliate, has launched a smart factory project, enabling a monthly production capacity of 120 million tests starting around September, thereby securing the world's largest production scale.

According to industry sources, Solgent held a groundbreaking ceremony last month for its second factory, which incorporates automated systems and computerized logistics systems for efficient asset management. With the expansion of the second factory set to be fully operational in September, mass production of polymerase enzymes, the raw materials for molecular diagnostic kits as well as COVID-19 diagnostic kits, will become possible. It is expected that domestic companies, which previously imported key diagnostic kit materials from countries like Germany and China, will be able to reliably supply domestically produced reagents.

Biotoxtech's stock price also showed an upward trend, rising 7.14% from the previous day to 10,500 KRW at the same time. The positive impact is believed to stem from news that Sejong Venture Partners, an affiliate of Biotoxtech, invested in Solgent through the Sejong Agricultural Food Bio Investment Fund No.1.

This content was produced with the assistance of AI translation services.