Microneedle Specialist Company Small Lab Establishes Branch and Research Center in Gwanggyo

Full-scale Domestic and International Sales... IPO Also in Mind

Provided by Small Lab

[Asia Economy Reporter Minwoo Lee] Small Lab, a company specializing in microneedle platforms, has established a branch office and research center in Gwanggyo, Suwon, Gyeonggi Province.

Small Lab announced on the 17th that it set up the research center and branch office as a foothold for going public (IPO) while actively expanding domestic and international sales.

Microneedle pharmaceuticals are a drug delivery system that uses microneedles less than 1 millimeter (mm) in length to painlessly deliver vaccines and medicines through the skin. Previously, Small Lab had established a mass production facility for dissolvable microneedles at its headquarters in Daejeon, based on large-area LSCR process technology.

Small Lab's Gwanggyo research center plans to develop microneedle patch pharmaceuticals loaded with various drugs by utilizing the microneedle patch commercialization technology developed at the Daedeok research center.

Earlier, Small Lab recorded sales of 7 billion KRW in the first half of this year. Exports alone amounted to 5.1 million USD (approximately 6 billion KRW), surpassing the total export volume of last year within the first half. Since starting full-scale exports in 2019, they have also applied for the '7 million USD Export Tower' award at the 2021 Trade Day after three years.

A Small Lab official said, "Based on 13 years of accumulated technology and experience, we will create a sensation in the microneedle patch pharmaceutical market."

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