DigitalOptic Completes 20 Billion KRW CB Payment... "Bio Business for Corona Transport Kits Gains Momentum"
[Asia Economy Reporter Hyunseok Yoo] Digital Optic announced on the 17th that the 20 billion KRW convertible bonds (CB) issued to its largest shareholder, Noble Bio, have been fully paid. Additionally, at the extraordinary general meeting, Baek Gye-seung, CEO of Noble Bio, and Ahn Tae-soo, Vice President, were appointed as inside directors.
Digital Optic plans to focus on stable growth and securing financial soundness this year by strengthening collaboration between its existing business and new bio business.
Noble Bio, which secured the largest shareholder position in Digital Optic, is the world's number one manufacturer of specimen collection swabs, an essential product for COVID-19 diagnosis, and is the only company in Korea to have obtained Class 2 medical device approval for swabs. Based on over 80 clients in 60 countries worldwide, Noble Bio achieved sales of 150 billion KRW last year, growing more than 30 times compared to the previous year.
Recently, after signing an exclusive global distribution agreement for COVID-19 diagnostic transport kits with Noble Bio, Digital Optic secured orders worth 8 billion KRW in January alone. To proactively respond to the explosive increase in demand for diagnostic kits due to overseas imported confirmed cases and variant viruses, Noble Bio is currently expanding its specimen transport kit production capacity to double the current level.
Furthermore, the two companies are pursuing synergy expansion in the bio business related to diagnostics. They plan to develop new POCT equipment by combining Digital Optic’s existing optical technology with bio technology.
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A company official stated, “The additional funds secured this time have not only enhanced financial stability but also will be used to expand the bio business in collaboration with Noble Bio. Also, with Noble Bio’s key executives appointed as inside directors, we plan to expand synergies such as developing next-generation diagnostic devices.”
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