Official Launch of Solus Biotech, a Bio-Material Specialist
Solus Advanced Materials Announces Physical Division
"Declaration to Become an Innovative Bio Company"
[Asia Economy Reporter Kim Heung-soon] Solus Advanced Materials (formerly Doosan Solus) has officially launched Solus Biotech, a bio-material specialized company spun off from it, on the 1st.
On the same day, Solus Biotech held its inaugural general meeting and board meeting, appointing Seo Gwang-byeok, CEO of Solus Advanced Materials, as its first CEO.
Solus Biotech produces functional lipids for cosmetics, food, and pharmaceuticals. Its flagship product, natural ceramide, holds a 95% market share in Korea. Recently, the company has also begun developing phospholipids for mRNA (messenger RNA) vaccine delivery systems.
Following the government-led growth trend in the bio industry, Solus Biotech has set a goal to achieve sales of 120 billion KRW by 2025.
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Newly appointed CEO Seo said, "The launch of Solus Biotech is the first step toward becoming an innovative bio company," adding, "We will firmly establish our position as a leading bio-material company not only in the K-bio market but also in the global market."
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