[Click eStock] "Jinwon Life Sciences, Competitor Value Over 4 Trillion Won... Time to Consider New Factory Value"
[Asia Economy Reporter Hyunseok Yoo] Hanyang Securities analyzed on the 26th that since a competitor's factory value reaches 4 trillion KRW, it is a time to consider the value of the new factory of Jinwon Life Sciences. No investment opinion or target price was presented.
Byungyong Oh, a researcher at Hanyang Securities, said, "They have a cGMP-grade Plasmid DNA production plant in the United States and are currently expanding a large-scale new factory," adding, "The new factory is 240,000 ft2 (6,800 pyeong) in size, and once completed in the fourth quarter, it will be the world's largest Plasmid DNA factory."
He stated, "The world's largest Plasmid DNA factory at this point is known to be the new factory under construction by Aldevron in the United States, which is 189,000 ft2 in size," emphasizing, "Aldevron was recognized with a corporate value of about 4 trillion KRW when it received investment for the new factory in 2019."
He continued, "Jinwon Life Sciences' factory is larger in scale compared to Aldevron's, and the completion time is only about six months later," adding, "It is a time to deeply consider the value of the new factory."
He emphasized that they possess mRNA drug substance (DS) production technology. Researcher Oh said, "The important point is that the mRNA drug substance (DS) production line will also be added to Jinwon Life Sciences' new factory," explaining, "In 2018, they obtained an exclusive license for the mRNA drug substance production process from the Houston Methodist Research Institute." He added, "They outsource both the raw materials and drug substance production of mRNA."
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Researcher Oh said, "Jinwon Life Sciences has more than 10 years of experience in Plasmid DNA production since 2014 and has numerous clients in the United States," adding, "Customer loyalty is high, and there are many references for supplying to global pharmaceutical companies." He emphasized, "Jinwon Life Sciences, which has accumulated experience in this field for a long time, has met the trend of the times and also received policy benefits."
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