[Market Focus] CGBio Medtech Rises on Acquisition of CGBio Human Tissue Bank, Secures Key FDA-Compliant Facilities

CGBio Medtech is showing strong performance. This appears to be driven by news that the company will acquire the Seongnam Human Tissue Processing Tissue Bank currently owned by CGBio.

As of 10:00 a.m. on April 10, CGBio Medtech is trading at 2,220 won, up 12.12% compared to the previous day.

On this day, CGBio Medtech, an affiliate of Daewoong Pharmaceutical, announced that it will acquire the Seongnam Human Tissue Processing Tissue Bank held by CGBio.

With this acquisition, CGBio Medtech has secured a human tissue processing facility and key equipment that have a history of AATB certification and comply with U.S. Food and Drug Administration (FDA) regulations. The company also completed an integrated acquisition of a cell processing facility, thereby establishing a manufacturing infrastructure that meets global standards.

With these assets, CGBio Medtech plans to promote the development of ECM (extracellular matrix)-based therapeutics and regenerative skin booster businesses. ECM is a biomaterial that induces tissue regeneration and is considered to have high potential for use in various medical fields, including skin, soft tissue, and bone tissue regeneration.

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