LabGenomics, CFO Han Woo-min of US Corporation Buys Company Shares... "Expecting Additional Growth in Klia Lab's Scale"

Labgenomics announced on the 5th that Han Woo-min, Chief Financial Officer (CFO) of its U.S. subsidiary, conducted an on-market purchase worth 100 million KRW.

Since June, ten key executives, including Labgenomics co-CEOs Kim Jung-joo and Lee Jong-hoon, have been purchasing a total of 1.3 billion KRW worth of company shares ahead of their full-scale entry into the U.S. market. The major executives’ on-market purchases demonstrate their confidence in the company’s growth and their commitment to responsible management.

Labgenomics is planning to acquire another Clia Lab that can create synergy with QDx, which it acquired last August. Currently, QDx has introduced the ‘BRCA 1, 2’ panel test that assesses genetic risks for breast and ovarian cancer, as well as the ‘OTD-Solid’ panel test used for diagnosis and treatment selection of solid tumors.

Going forward, the company plans to enhance its services and reduce costs by converting various in vitro diagnostic test services into LDTs (Laboratory Developed Tests). Additionally, Labgenomics will make large-scale investments in its U.S. subsidiary, Labgenomics USA, and plans to launch local early cancer diagnosis services through collaboration with domestic companies possessing medical AI (artificial intelligence) technology.

Meanwhile, from the 18th of last month for one week, co-CEOs Kim Jung-joo and Lee Jong-hoon visited the U.S. and met with Larry Hogan, former Governor of Maryland, to discuss cooperation plans and secured promises of multifaceted support from the state government. Centering on Maryland, a massive bio-cluster home to the U.S. Food and Drug Administration (FDA), the National Cancer Institute (NCI), and the National Institutes of Health (NIH), Labgenomics is expected to actively expand its presence in the North American market.

A Labgenomics official stated, “We are planning an additional Clia Lab acquisition to create synergy with the previously acquired QDx,” adding, “Together with Han Woo-min, director and U.S. biohealth M&A expert who recently joined us, we will strive to grow our scale and increase corporate value by expanding the local diagnostic market.”

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