The chairman of the board, Mr. Rongjin Lin, said that in the face of the global economic downturn, the group will increase its shareholding in its core businesses and strengthen the allogeneic cell therapy and CDMO (contracted development and manufacturing services) markets, in an effort to maximize the combined effect of the group's cooperation. In addition to expanding into the new stroke drug market, Lumosa Therapeutics, which Centr Ventures has invested in, will also collaborate to establish at least four new platform technology companies.
In the first three quarters of this year, Center announced its financial results. In the third quarter, due to the fluctuation of the share price of the reinvested company, a loss in financial evaluation was recognized, resulting in a net loss of NT$1.84 per share for the single quarter. In the third quarter, Center's business reported revenue of NT$172 million, an increase of 96% year-on-year, and a cumulative revenue of NT$529 million for the first three quarters, an increase of 40% year-on-year.
Mr. Lin said that in the face of the downward trend of the global economy, "this is the worst of times, this is the best of times", the value of the Group's core assets continues to rise, and Center Ventures can adjust its shareholding level in a phased and strategic manner, and then gradually realise the results of its investment to create a sustainable cash flow holding model. This year, the company has already accumulated a cash flow of $9 billion.
Mr. Lin said that in the future, he will increase or adjust his shareholding in the core businesses, including Mycenax, Lumosa, BioGend, Medeon and Adimmune, so that they can contribute stable cash flow in the long run and promote the rapid development of the core businesses. In addition, for companies listed on the Hong Kong stock market, such as Jaxx and Ausnutria, with the recent significant shrinkage in market value, it is also a good opportunity for Center to re-capitalise its investment.
Apart from focusing on its core business, Center will also invest in large pharmaceutical funds with strong cash flow and will focus on emerging industries with future potential, such as AI, hydrogen energy, electric vehicles and e-commerce, in addition to the biomedical industry.
The company's new drug development department senior associate Liu Naijing pointed out that, in addition to continuing to develop new pain relief drugs for the global market, Sooner had also set up a joint venture with Center to establish a new platform for exosomal technology from the NHI with a capital of $125 million. Liu Naijing said that after Cytoengine Co, Lumosa and Center will also set up a new joint venture for allogeneic cell therapy projects, and in total, the two companies will set up at least four new innovative technology platform companies in the future.
Mr Lam said he is optimistic about the trend of allogeneic cell therapy and CDMO, and will strive to deepen the group's synergy by actively cooperating with other investee companies, such as Lumosa, Mycenax and TOT Biopharm, to capture the market together.
