Central Insight Reports No Issues in AI Drug Development Project... Continues Collaboration with Aijos Bio

[Asia Economy Reporter Jang Hyowon] Central Insight announced on the 11th that the artificial intelligence (AI) new drug development platform project being promoted in collaboration with Aijos Bio is progressing smoothly.

They also stated that they are actively considering cooperation in the medical device business based on Advanced Bio Material (ABM) with Terams, which is 100% owned by Aijos Bio.

Central Insight stated that although the plan to acquire 1.25 million shares of Aijos Bio has significantly decreased compared to the original plan due to delays in fundraising schedules, the AI new drug development project will proceed without any setbacks.

A company official explained, “The similar capital increase procedure with Aijos Bio has been delayed in payment of the remaining balance, resulting in a change in the preferred stock acquisition contract schedule and a revised disclosure. However, the bio new business will proceed as planned. Subsequently, Central Insight will complete additional share acquisitions of Aijos Bio according to the postponed payment, and the cooperative relationship in the AI new drug development project will be maintained without changes.”

He added, “There were concerns that the bio business might be withdrawn following the disclosure related to Aijos Bio, but we will accelerate the bio new business soon to dispel those concerns and continuously communicate with the market. We also plan to focus on maximizing shareholder value by improving performance through pursuing highly profitable businesses this year.”

Central Insight is focusing on strengthening fundamentals through aggressive promotion of the bio new business as well as large-scale restructuring of its core business. Last year, it excluded subsidiaries with large deficits from consolidation and is also promoting the peptide cosmeceutical business of Ash Seven, which recently became the largest shareholder. Additionally, by launching various products such as integrated COVID-19 prevention solutions and air sterilizers capable of eliminating viruses, they are intensifying the K-quarantine business and focusing on improving performance.

A company official said, “We successfully completed a 10-for-1 reverse stock split last year, and through a 14.5 billion KRW paid-in capital increase this year, the capital erosion ratio has decreased to below 50%, raising expectations for removal from the management item list. With financial soundness secured, we plan to maximize synergy in the Ash Seven and peptide cosmeceutical business sectors to expand profitability in both existing and new businesses.”

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