‘Food Safety Sentinel’ Sanigen...’No. 1 Food Safety’ Listed

No. -3 2023.09.11 View 702

Press MTN News

Created Date 2023.8.21

[Anchor Comment]

During the hot summer season, it is easy to get food poisoning. A domestic company is attracting attention for its technology that can detect more than 99% of harmful microorganisms such as food poisoning bacteria. This is Sanigen, which claims to be a food safety company. Recently, they are pursuing KOSDAQ listing, and reporter Eunah Cho visited the company to find out what kind of company it is.

[content of the article]

When a microbial sample is tested using a gene amplification (PCR) molecular diagnostic test, lines in all four colors, including blue and red, rapidly jump out on the monitor screen.

This graph shows that a total of 4 types of food poisoning bacteria were detected.

Sanigen is a company that diagnoses and analyzes food poisoning bacteria and viruses and develops sterilization solutions, and is the only company in Korea with full-cycle technology related to food safety.

[Sanigen CEO Park Jeong-woong: Since our establishment in 2005, we saw the growth potential of the food safety industry and entered into it first, and as we secured leading technology through technological development, we have now prepared a first mover strategy from the beginning of establishment and have led it to this day. It's coming.]

The existing method had low accuracy because it was tested with the human eye, and only one food poisoning bacteria could be detected per test.

Sanigen's PCR molecular diagnosis can simultaneously diagnose four types of microorganisms at once. In addition, we have also developed a next-generation product that diagnoses 16 types of microorganisms from 384 samples through genetic analysis technology (NGS).

Although it is attracting attention for its technology that can save both diagnosis time and cost, its performance is still in deficit.

Last year's sales were KRW 26.8 billion and operating loss was KRW 4.1 billion, and Cenizen is expected to turn a profit in 2025 by increasing sales of products such as generics.

[Sanigen CEO Park Jeong-woong: We have been making efforts to develop more competitive technologies and products by investing heavily in R&D for diagnosis and sterilization. As a result, products and services have begun to be provided to the current market, and this product line is characterized by high profitability.]

Sanigen is also preparing for KOSDAQ listing to expand into overseas markets.

We plan to complete the merger with KB No. 23 Pack next month and list it in November.

Attention is focused on whether Cenizen, which is preparing to become the first food safety listed company, can use the KOSDAQ listing as a stepping stone to become a global company.

Article text https://news.mtn.co.kr/news-detail/2023082116481110596

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