INNOPOLIS Research Institute Spin-Off Companies Preparing for Foundation for the Growth of Sugentech Global Corporation 

Equipped with Production Facilities with M&A in Scale of 16.7 Billion Won 167

□    Ministry of Science, ICT, and Future Planning (Minister, Yanghee Choi, hereafter referred to as MSIP) and INNOBIS Foundation (President, Chadong Kim, hereinafter referred to as INNOBIS Foundation) have indicated on the 21st that Sugentech Corporation as the 28th INNOPOLIS Research Institute Spin-Off Company* acquired K-MAC Bio Center, the affiliate in the field of bio-diagnosis and medical equipment business of K-MAC as a company listed in KOSDAQ, with 16.7 billion Won.  

 *    Company established in INNOPOLIS by investing more than 20% of capital for the direct commercialization of development technology in public research institute 

□    Sugentech Corporation has successfully developed the digital pregnancy and ovulation tester for the first time in Korea as the company specialized with in-vitro diagnosis and also the INNOBIS Research Institute Spin-Off Company of EtriHoldings Corporation in 2011 and hence achieved remarkable accomplishment as they were approved with FDA in America in 2014, certified with European CE in 2015, and listed in KONEX in 2016.

ㅇ    In addition, they are actively proceeding to advance to foreign countries as they have recently completed certification in Europe for 'INCLIX,' the product for field diagnosis specifically designed for experts, and proceeded the development of customized drug concentration measuring system in terms of anti-cancer drug with Autotelic Corporation in America

□    With M&A at this time, Sugentech Corporation ended up transferring major business departments of companies listed in KOSDAQ as their affiliates within 7 months after they were listed in KONEX,

ㅇ     As they have acquired facilities and infrastructure to produce diagnosis sensor for more than 50 million tests, they are anticipated to establish a solid foothold as a general company equipped with research and production functions and expedite their advancement to global business.

□    On the other hand, supporting business from the Ministry of Science, ICT, and Future Planning and INNOBIS Foundation for INNOBIS Research Institute Spin-Off Companies has backed up the growth of Sugentech Corporation.

ㅇ    Sugentech Corporation has been supported with R&BD business for INNOBIS Foundation for commercialization of products for two times after they were invested for 'Ubiquitous Bio-Chip Reader Technology' from EtriHoldings Corporation in 2011 (about 1.2 billion Won from '12

         to '16).

ㅇ    They have also been supported with financing for technology commercialization through the fund that INNOBIS Foundation participated in the investment as well as the BI development of 'Surearly Digital Pregnancy Test' as a flagship (fund for creating job opportunity in INNOBIS in 2013 and 2014 (3 billion Won), and micro-VC fund in 2017 (1 billion Won)).

□    President, Chadong Kim, in INNOBIS Foundation said, "Successful cases of public technology commercialization through the INNOBIS Research Institute Spin-Off Companies have been on track." He continued, "We will diversify the support for established INNOBIS Research Institute Spin-Off Companies to grow as solid enterprise of middle standing."