[MiCo BioMed] Leading Player in In Vitro Diagnostic Medical Devices
- Name 관리자
- Date 2023-05-23
Leading Player in In Vitro Diagnostic Medical Devices, MiCo BioMed
Q. Please introduce MiCo BioMed.
"Goal to become a global player in the field of in vitro diagnostics through continuous innovation and research
and development"
A. MiCo BioMed, based on LabC
hip technology, was established in 2009 and designated as a venture company in 2010. Since then, we have been dedicated to developing innovative molecular diagnostic technologies that enable rapid and accurate diagnostics in the field. We have registered patents in 17 advanced countries and have been focused on commercializing infectious disease diagnostics.
Through the development of molecular diagnostic kits for 35 high-risk pathogens, MiCo BioMed was selected by the Korea Disease Control and Prevention Agency (KDCA) to provide diagnostic systems for counter-terrorism purposes at international sports events such as the 2018 PyeongChang Winter Olympics and the 2019 Gwangju FINA World Championships. We have also set up and operated mobile diagnostic vehicles for on-site testing.
We are currently developing and commercializing diagnostic kits for approximately 90 diseases, including tuberculosis and malaria, as we strive to enhance our capabilities as a specialized molecular diagnostics company. In addition, MiCo BioMed was listed on the KOSDAQ market through a special technology listing in 2020. Leveraging the rapid development and export boom of COVID-19 diagnostic kits, we achieved a revenue growth of over 1,000%. In addition, we were honored with the top award for $20 million in exports in 2021.
Through continuous investment in research and development, we aim to become a leading company in the global market as a specialized in vitro diagnostic company, focusing on three main areas: molecular diagnostics, immunodiagnostics, and clinical chemistry diagnostics.
Q. Please briefly explain the features of ‘in vitro diagnostic medical devices.’
"Compact size, rapidity, and high efficiency with LapChip-based technology"
A. We provide integrated solutions in the key areas of molecular diagnostics, immunodiagnostics, and clinical chemistry diagnostics, which are essential fields in in vitro diagnostics. Through our optimized and well-established technology for on-site diagnostics, we are creating new markets and developing and commercializing various diagnostic devices.
The VERI-Q PCR316, a device utilizing LabChip-based Real-Time PCR, is designed for the diagnosis of pathogens and infectious agents. It stands out from competitors due to its compact size (approximately 4.7 kg), enabling high-speed temperature control and precise regulation using two temperature blocks. With the capability to simultaneously detect 16 samples on a single LabChip, it offers a fast, lightweight, and highly efficient solution for molecular diagnostics.
VERI-Q Pino View is capable of digitizing and storing rapid immunodiagnostic test results while enabling quantitative analysis of disease markers. It allows for seamless integration with healthcare information systems in medical institutions, facilitating the management of test results.
The VERI-Q Multi is a multiplex analyzer that allows for the measurement of five diagnostic markers, including cholesterol, triglycerides, HDL (high-density lipoprotein), hemoglobin, and blood glucose, all in one device.
Q. What are the directions or roadmap for expansion into international markets and future business?
"Global leap through local production and business expansion"
A. We have established joint ventures in countries such as the U.S., Brazil, Indonesia, and India, where we are actively pursuing research and development, local production, and business expansion. Since 2020, Brazil has been one of our key export markets, especially in the post-COVID-19 era.
It serves as a stepping stone for our future expansion into the Latin America and the Caribbean markets. In addition, through the establishment of a joint research and development center and joint ventures with the University of Indonesia, we aim to collaborate on research, local production, and sales. This initiative is expected to serve as a stepping stone for penetrating the Southeast Asian market and expanding our presence in the region. In the case of India, we are aligning with the Indian government’s manufacturing promotion policies and currently in the process of establishing a local production facility.
We have plans to actively explore the Indian market through sales, distribution, participation in government tenders, and other initiatives to establish a strong presence in the country.
Especially in the post-COVID-19 era, we recognize the importance of the U.S. market. We are actively preparing for regulatory approvals and clinical trials to enter the U.S. market successfully. Additionally, we are preparing to proactively respond to the strengthened regulations in the European market. Our goal is to grow as a global player in the field of in vitro diagnostic medical devices.