Cellumed, Individual Operating Profit Turns Positive in 3Q... "Will Continue Performance Growth"

[Asia Economy Reporter Hyunseok Yoo] Cellumed announced on the 15th that its cumulative operating profit on an individual basis for the third quarter reached 1.4 billion KRW, marking a return to profitability. During the same period, cumulative individual sales amounted to 10 billion KRW.

Performance growth is also prominent on a consolidated basis. Cumulative consolidated sales for the third quarter increased by 51% year-on-year to 86.8 billion KRW. Operating profit for the same period grew sharply by 218% to 3.5 billion KRW.

This performance growth is interpreted as being driven by the recovery of orthopedic surgeries delayed due to COVID-19, along with a continuous increase in demand for medical device products recognized for their excellent quality, leading to diversification of supply channels centered on university hospitals and specialized hospitals. Additionally, effective credit management contributed to the increase in operating profit.

Further performance growth is expected in the fourth quarter. Cellumed has already secured supply close to its target sales, focusing on its main product lines. The patient-specific total knee arthroplasty technique using a 3D printer, for which four patents have been filed, is being used at Seoul National University Hospital, Severance Hospital, Jeju National University Hospital, and Myongji Hospital, expanding sales based on differentiated competitiveness.

New sales are also expanding as the delivery of robots integrated with robot-assisted surgery is being introduced at specialized hospitals such as Busan Bon Hospital. Furthermore, the supply of Dermicos cosmetics based on recombinant protein FGF7 raw materials has been confirmed at Shilla Duty Free, targeting the Chinese market, raising expectations for cosmeceutical sales growth.

Alongside this, bone graft surgeries for animals are rapidly increasing, and Cellumed is preparing to supply animal hospitals through research and development with veterinary clinics, based on its core technology for human bone grafts.

A company representative stated, “Cellumed continues to achieve sales and operating profits based on products made with globally recognized technology,” adding, “We will maintain our growth trend through business diversification such as mRNA, based on the stable growth of existing businesses.”

With the full-scale development of mRNA therapeutics, vaccines, and production enzymes this year, the company’s corporate value is expected to further improve next year.

Cellumed is accelerating its mRNA production enzyme development business with domestic and international companies. It is conducting priority supply negotiations for production enzymes with major global companies. Recently, it signed an mRNA production enzyme CDMO (Contract Development and Manufacturing Organization) contract and technology transfer agreement with ARTES in Germany, as well as a CMO (Contract Manufacturing Organization) cooperation contract with Richter Helm Biologics in Germany.

Within this month, Cellumed’s R&D personnel plan to visit Germany to discuss various processes that can expedite development and production schedules. The company will continuously cooperate by identifying priority supply partners targeting companies developing vaccines and therapeutics in Germany and Europe.

Cellumed expects that through enzyme development and production, full-scale delivery will be possible from the second half of 2022 to the first half of 2023, and from 2024, sales and operating profits through enzyme delivery will be maximized.

A company representative said, “Since domestic bio companies have weaknesses in securing raw materials, Cellumed is collaborating with global companies at home and abroad to become a leading domestic materials and components company,” adding, “The production enzymes developed by Cellumed can be supplied to mRNA therapeutics, vaccines, and cancer vaccines.” He further explained, “The greatest competitiveness lies in the ability to supply both global companies that have already completed therapeutic development and domestic and international companies currently developing products.”

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