SML Zenitree-JW Bioscience Sign Product Supply Agreement and Strategic Partnership

[From the left, Dongwoon Shin, Head of Development Marketing at JW Bioscience; Eun Kyung Ham, CEO; Jihoon An, CEO of SML Genitree; Kyung Ah Hwang, Head of Research Institute; Seungmok Lee, Head of Business Planning Team]

Molecular diagnostics specialist SML Zenitree and diagnostic/medical device company JW Bioscience signed a business agreement on the 8th, focusing on a product supply contract and strategic partnership based on the ODM (Original Development Manufacturing) model.

ODM refers to a distribution method where a company with a sales network receives products from a company with product development and manufacturing capabilities and distributes them. This concept differs from OEM (Original Equipment Manufacturing), where only manufacturing is outsourced while product planning and development are handled directly. An official stated that this agreement was made based on the mutual judgment that JW Bioscience, with its extensive distribution network and market recognition, and SML Zenitree, with its excellent product capabilities, can achieve a win-win outcome.

This product supply contract targets respiratory infection diagnostic kits, including those for the coronavirus. Additionally, both companies plan to establish a comprehensive cooperation system covering joint development of various innovative molecular diagnostic medical devices and domestic and international market expansion, continuously promoting collaboration.

Established in 2015, SML Zenitree is a domestic molecular diagnostics specialist company affiliated with Samkwang Biotree Group, a bio-healthcare group. SML Zenitree has been gaining attention with notable achievements such as official approval from the Ministry of Food and Drug Safety for the rapid diagnostic kit capable of simultaneously diagnosing COVID-19 and influenza (Ezplex® SARS-CoV2/RV Fast Kit), and emergency use authorization from the US FDA for the COVID-19 pooling test diagnostic kit. Building on recent successes, SML Zenitree has successfully completed its Pre-IPO round and is preparing to enter the KOSDAQ in 2022 with Mirae Asset Securities as the lead underwriter.

JW Bioscience is a subsidiary of JW Life Science, an affiliate of JW Group, established in April 2016. It is a diagnostic/medical device specialist company focusing on the localization of essential diagnostic reagents and medical devices as well as the supply of overseas medical equipment. The company is dedicated to developing high value-added products such as biochemistry diagnostic reagents and rapid reagents, which have high import dependency, as well as immunodiagnostic reagents and molecular diagnostic reagents.

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