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Solus Advanced Materials‘ bio biz sets off as Solus Biotech

(Solus Biotech)
(Solus Biotech)


Solus Advanced Materials, formerly known as Doosan Solus, said Friday it had split off its bio division as a wholly owned subsidiary Solus Biotech to target the global mRNA vaccine market.

The new bio subsidiary will be led by Seo Kwang-byeok, the current CEO of Solus Advanced Materials, and target an annual revenue of 120 billion won ($100 million) by 2025.

Solus Biotech supplies organic compounds to global manufacturers of cosmetic, food and pharmaceutical products. The firm commands 95 percent of the domestic ceramide market, a type of fat commonly used for skin care products to retain moisture.

Based on its expertise in organic compounds, Solus Biotech aims to develop a nano material that helps the delivery of an mRNA vaccine inside a human body.

By Kim Byung-wook (kbw@heraldcorp.com)
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