Kolmar Korea Holdings to acquire 40% stake in Next & Bio, a local biotech platform company with organoid technology, to strengthen its healthcare business as a new growth engine, announced Tuesday Kolmar Korea Holdings.
The latest translation marks the company’s push into bio-research and engineering after its series of mergers and acquisitions involving CJ Healthcare (currently HK inno. N) in 2018, TKM in 2019, and recent capital investments in Cell In Cells and Novacell Technology.
The organoid, a miniaturized organ generated from stem cells grown in a dish, can be produced to grow artificial organs for humans. The organoids market is valued at around $ 1 billion globally and is expected to grow to around $ 4 billion by 2027.
Based on Next & Bio’s organoid technology, Kolmar Korea Holdings aims to commercialize culture kits, drug candidate verification platform, individualized oncology drug development and efficacy testing for refractory disease treatments . The company also wishes to create a synergy with its subsidiary HK Inno. N in drug discovery and moving towards long-term regenerative medicine.
Founded in 2018, Next & Bio is known for its unique organoid standardization technology in Korea. He has numerous patents obtained thanks to the research of convergence between biotechnology and the engineering of biosystems.
By Yoo Joo-yeon and Minu Kim
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