Dong Kook Lifescience will be listed on the KOSDAQ market on the 17th of next month.
CEO Park Jae-won noted at a press conference held at the Conrad Hotel in Yeouido, Seoul, on the 24th, that "we aim for 300 billion won in sales and a 20% operating profit margin by 2030 to position ourselves as a total healthcare provider at the center of global distribution of contrast agents and medical devices." He added, "Our goal is to leap forward as a leader in the global radiology industry through our KOSDAQ listing."
Established in May 2017, Dong Kook Lifescience is a corporation that distributes contrast agents, diagnostic equipment, and medical devices (MEMD). The contrast agents allow for clearer visibility of diagnostic areas such as internal organs, blood vessels, and tissues in imaging diagnostics like CT and MRI. According to the company, Dong Kook Lifescience's cumulative sales in the third quarter of last year reached 100 billion won, with an operating profit of 9.5 billion won, making it the top player in the domestic contrast agent market.
Dong Kook Lifescience is offering 2 million shares through this listing. The expected offering price per share ranges from 12,600 won to 14,300 won, with a total planned amount of approximately 25.2 billion to 28.6 billion won. Demand forecasting will be conducted from January 20 to 24, and the general subscription will take place on February 5 and 6. The expected listing date is February 17. NH Investment & Securities and KB Securities will serve as the lead underwriters.
CEO Park stated, "We will utilize the funds secured from the listing to expand our production infrastructure for contrast agents and strengthen our research and development capabilities."
According to CEO Park, Dong Kook Lifescience has uniquely internalized the entire value chain of contrast agent production from research and development to sales in South Korea, ensuring stable supply and high-quality production capabilities. By integrating dual factories, the company established a manufacturing facility for raw materials and finished pharmaceuticals to achieve cost reduction and increased profitability. He stated, "In the future, we plan to reduce our reliance on imported raw materials and enhance our manufacturing capabilities while producing high-value finished pharmaceuticals to increase our sales."
Following the listing, the company plans to collaborate with the new drug development corporation Inventera to develop and supply the world's first iron-based MRI contrast agent. They aim to manufacture, market, and exclusively sell next-generation contrast agents specialized for diseases that have been difficult to treat, positioning themselves as leaders in the MRI contrast agent market. Inventera is expected to enter phase 2a of the new contrast agent INV-001 (lymphatic system) in the first quarter of this year, while INV-002 (musculoskeletal system) is set to enter phase 3 during the same period. Last November, they received approval from the U.S. Food and Drug Administration (FDA) for the phase 2b clinical trial application (IND).
Dong Kook Lifescience is actively pursuing expansion in overseas market share, having obtained licensing in 25 major countries, including Japan and Europe. According to Business Research Insight, the global contrast agent market is projected to grow approximately 31.8% from 13.2 trillion won in 2022 to 17.4 trillion won by 2031.
In addition to its contrast agent business, the company plans to continue expanding its MEMD business. It is currently selling equipment from global corporations such as Siemens Healthineers and Holologic. Through the MEMD business model it has established, the company plans to collaborate with AI medical firms like Lunit to expand its operations. Recently, it signed a domestic licensing agreement for the medical AI startup Beamworks' "CadAI-B."