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[Moneytoday] UNDBIO "Korea's First Insulin Development...The first U.S. commercial production will be launched"
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- 2023-06-16
Soource : Moneytoday
▶ UNDBIO is a native bio company that develops insulin raw materials and finished products with its own technology and challenges commercial production. In the meantime, efforts have been made to secure production facilities in the United States, the world's largest insulin market. This year is the first year in which efforts so far lead to actual business performance.
▶ Chairman Jun Yong-soo stressed, "We first verified the insulin technology secured by UNDBIO in the United States and recognized its competitiveness." "After verifying UNDBIO's insulin manufacturing technology, the West Virginia government and medical school experts praised it for twice as much yield (the degree of insulin extraction per unit hour) and reducing the process by 40 percent."
▶ Since then, UNDBIO has met with the Governor of West Virginia and the Minister of Economic Development in person and agreed on government grants and financial benefits related to the construction of local production plants. It also secured a site for a 32,000-pyeong insulin production plant in West Virginia. "This has been officially announced by all West Virginia governments," he said.
▶ UNDBIO is seeking to list on the Nasdaq in the U.S. Allen & Company, a U.S. boutique investment bank (IB), is merging with NASDAQ president companies, which are major shareholders. To this end, it even signed a letter of intent to invest (LOI).
▶ Chairman Jun Yong-soo said, "We are focusing on insulin localization with the philosophy of wanting to take a new path," adding, "We want to become a top 10 global bio company in 2030," adding, "Please watch the success story of UNDBIO in the global insulin market."