SC Engineering Selected as Preferred Negotiation Partner for Sellontech Sale... "Expecting New Growth Engine"

[Asia Economy Reporter Hyunseok Yoo] Comprehensive engineering specialist company SSE Engineering announced on the 7th that it has been selected as the preferred bidder for the management rights sale of Cellontech, a bio company specializing in regenerative medicine business.

On the 4th, Sewon ENC disclosed that after reviewing the letter of intent for acquisition submitted by SSE Engineering regarding the sale of management rights of Cellontech, SSE Engineering was selected as the preferred bidder.

Sewon ENC is a subsidiary of SSE Engineering. In March, it spun off its bio business division to establish Cellontech. Recently, to secure liquidity necessary for smooth progress of the bio business, it decided to sell more than 51% of shares including management rights of Cellontech.

Cellontech is engaged in regenerative medicine business such as bio-collagen-based biomaterials, cell therapy products, and cord blood banking. To expand stable mass production infrastructure, it is constructing RMS CAMP in Geumgok General Industrial Complex, aiming for completion in 2022. Also, with a new bio-collagen-based product launch scheduled for the second half of this year, significant sales growth is expected.

Kim Gunwoo, co-CEO of SSE Engineering, said, “Since we have collaborated with Cellontech for a long time in the business field using bio-collagen, we know better than anyone the technology and potential that Cellontech possesses,” and added, “With high expectations for sales growth based on the excellent technology and marketability of the newly launched bio-collagen-based therapeutic materials, we participated in the acquisition as it is expected to act as a growth engine for SSE Engineering’s future bio new business.”

Meanwhile, to enter the bio new business, SSE Engineering recruited Hwang Mansoon, CEO of Korea Investment Partners and a leading domestic bio investment expert, as a management advisory advisor in March.

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