Tiombio Subsidiary Proteome Science Doubles H1 Sales Year-on-Year... SK Plasma Stake Value Also in Focus

Tiombio's key subsidiary, Proteome Science, continued its growth trajectory by more than doubling its sales in the first half of this year compared to the same period last year. In addition, the value of Tiombio's stake in SK Plasma has also been highlighted, as it is estimated to be around 24 billion won based on the actual transaction price, drawing attention to both the subsidiary's growth potential and the value of its investment assets.

According to the Financial Supervisory Service’s DART system on September 1, sales at Proteome Science in the first half of this year reached approximately 5.1 billion won, more than doubling from around 2.4 billion won in the same period last year. This means that the company has achieved about 72% of last year’s annual sales of 7.1 billion won in just the first half. Tiombio currently holds a 68.26% stake in Proteome Science.

Proteome Science is a company specializing in contract development and analysis of biopharmaceuticals (CDAO). It provides a full range of services needed for biopharmaceutical development, from cell line development, culture and purification, to protein analysis and technology transfer for contract manufacturing.

Since its foundation, cumulative order intake has exceeded 50 billion won. As the company has expanded its client base from early-stage bio startups to pharmaceutical and biotech firms, it is now entering a stage where orders are being converted into actual revenue. The company plans to expand its business aiming for sales of around 20 billion won this year, and is also looking to pursue an initial public offering (IPO) in the year after next.

The growth in Proteome Science’s results has also brought attention to the value of Tiombio’s stake in SK Plasma.

Tiombio participated in SK Plasma’s third-party paid-in capital increase in 2021, acquiring 1 million common shares at 30,000 won per share. It later sold 333,333 shares at 36,000 won per share and currently retains 666,667 shares.

If the current holding is valued at the actual sale price of 36,000 won per share, the stake is worth approximately 24 billion won. If SK Plasma’s valuation rises or its IPO is realized in the future, there is potential for Tiombio’s stake to be further revalued.

Tiombio's strategy is to enhance corporate value not only through new drug development but also through appreciation of its subsidiaries and investment assets. The growth of Proteome Science's CDAO business and the potential IPO of SK Plasma are seen as key value drivers.

A Tiombio representative stated, “Proteome Science has entered a sales growth stage based on increasing cumulative order intake,” adding, “We plan to continue the growth momentum seen in the first half of this year to enhance corporate value in the medium to long term.”

The representative added, “We expect further value appreciation as SK Plasma continues to grow and moves toward an IPO, and we will continue to actively communicate the value of our subsidiaries and investment assets to the market, alongside progress in clinical development of our core new drug pipelines.”

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