Vertis has entered the initial public offering (IPO) process. As a proteomics technology company that comprehensively studies all proteins in living organisms, it has secured commercialization results. The company aims to accelerate its global growth with two pillars: new drug development support and early cancer diagnosis.
On the 13th, Vertis announced that it will list on the KOSDAQ market to enhance its core technologies and actively expand into overseas markets. Previously, it passed the technology evaluation by a specialized institutional investor for the KOSDAQ special listing based on technological excellence.
Since its establishment in December 2014, Vertis has developed its own technology platform (DEEP) for discovering and analyzing large-scale protein data. Based on this, it successfully commercialized the protein analysis service 'PASS' that supports new drug development and the blood-based early cancer diagnostic test 'CHECK.'
Vertis's strength lies in securing a relatively stable revenue base through actual commercialization based on proteomics technology. In the field of new drug development, it supplied PASS to domestic and international pharmaceutical and biotech companies, generating 2.4 billion won in revenue last year. 'MastCheck,' a breast cancer blood test from the CHECK series, recorded 2.7 billion won in revenue last year. Vertis's consolidated revenue for last year was 5.1 billion won, an increase of approximately 62.8% compared to the previous year.
Vertis plans to expand its business areas by leveraging its accumulated know-how and commercialization capabilities in discovering, analyzing, and validating protein biomarkers. To this end, the company's strategy is to develop a new drug discovery platform combining AI (artificial intelligence) and proteomics technology, as well as subsequent diagnostic products. It also intends to actively pursue entry into global markets.
During the IPO offering process, Vertis plans to present its commercialization results based on proteomics technology as a differentiated competitive advantage. It is observed that the evaluation of the public offering market regarding its business model, which involves collaborating with domestic and international pharmaceutical and biotech companies in new drug research beyond simple disease diagnosis, will determine the success or failure of the IPO.
A Vertis official stated, "Vertis has the capability to consistently create new business opportunities centered on its proprietary core proteomics technology," adding, "We will continue to grow our new drug research support and early cancer diagnosis businesses while strengthening growth drivers through expansion into new businesses and entry into global markets."
in THEBIO
