Excel Therapeutics Sees Fivefold Sales Surge in First Half...Medipost Application and Expanded Supply to China Expected
First-half Sales Surge 438% to 3 Billion Won
New Cell Culture Media Launch and Expansion into China Planned
Medipost Set to Apply Cell Culture Media to Cartistem in Japan
On August 7, independent research firm ValueFinder assessed that Excel Therapeutics entered a growth phase, noting that its sales in the first half of the year surged more than fivefold compared to the same period last year.
Excel Therapeutics posted sales of approximately 3 billion won in the first half of this year, representing a 438% increase from the same period a year earlier. The operating loss was 5.6 billion won. The company's top-line growth was driven by increased product sales, and it is expected that core business revenue will also expand in the second half, fueled by the launch of new cell culture media, expanded supply to China, and increased deliveries to key clients.
The report also analyzed that if the government pushes forward with a special law for Contract Development and Manufacturing Organization (CDMO) and introduces a certification system for raw materials of biopharmaceuticals, Excel Therapeutics could benefit from increased domestic demand for the localization of core bioprocess materials such as cell culture media.
Medipost, which recently completed Phase 3 clinical trials in Japan, plans to switch the media used for its stem cell therapy for knee osteoarthritis, Cartistem, to a chemically defined medium produced by Excel Therapeutics. The report stated that this could become the first case where domestically developed media are applied to commercial-stage cell and gene therapy (CGT) products globally.
In the second half, the new launch of media exclusively for T and NK cells and the full-scale supply to China are anticipated. The local distribution partner is Bluemage, a hyaluronic acid (HA) raw material supplier, and discussions are currently underway to establish a local manufacturing system.
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Jihu, a researcher at ValueFinder, remarked, "With the sharp increase in first-half sales, Excel Therapeutics has entered a growth cycle," adding, "The application to Medipost's Cartistem and expanded supply to China will be the mid-to-long-term growth drivers."
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