InscoBi-Oncotag Appoints CEO Dongjae Choi "Boosting Cancer Diagnosis Bio Business"
[Asia Economy Reporter Hyunseok Yoo] InscoBi is accelerating its bio business related to cancer diagnosis, including pancreatic and biliary tract cancers, by newly appointing a bio expert as the CEO of its cancer diagnosis specialized subsidiary.
InscoBi announced on the 12th that its bio subsidiary OncoTag Diagnostic (hereinafter OncoTag) has newly recruited CEO Dongjae Choi.
CEO Dongjae Choi is a veteran with 40 years of experience in the pharmaceutical and bio industries, having graduated from Seoul National University College of Pharmacy and worked at Korea Kolmar, Myungmoon Pharmaceutical, Geonil Pharmaceutical, and others. Through the recruitment of this bio expert with experience and know-how, InscoBi and OncoTag plan to accelerate the development and commercialization of cancer diagnostic kits for pancreatic cancer, biliary tract cancer, and others.
In addition, led by the new CEO Choi, OncoTag will actively pursue preparations for an initial public offering (IPO) while expanding sales through the establishment of mid- to long-term growth strategies.
OncoTag is a company developing pancreatic and biliary tract cancer diagnostic kits, having received core technology transfers from Severance Hospital and the Medical Bio Convergence Research Group Foundation. Clinical researchers from Severance Hospital, Gachon Gil Hospital, and Bundang CHA Hospital are directly participating in the research.
InscoBi highly evaluated OncoTag’s technological capabilities and acquired a majority stake in OncoTag through a 5 billion KRW investment in September last year.
CEO Dongjae Choi of OncoTag stated, “Interest in the bio and diagnostic markets is increasing, especially following the COVID-19 pandemic.” He explained, “In healthcare, the importance of predicting and diagnosing diseases in advance is expanding, summarized by the 4Ps: prediction, prevention, participation, and personalization.”
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He continued, “Given this situation, having newly joined OncoTag, we will grow into a specialized cancer diagnosis company for biliary tract cancer, pancreatic cancer, and various other cancers based on the development of new diagnostic biomarkers.”
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