Center Laboratories held its 2025 Q1 investor conference on the 17th. Group President Lin Rong-jin stated that the group’s subsidiaries continue to operate steadily while deepening their core competitiveness. As the group moves forward with multiple key milestones in 2025, it will leverage the strategic advantages of its biotech investment and control platform to create long-term, stable value for shareholders. Addressing shareholder concerns regarding increased investment in Lumosa Therapeutics, Lin emphasized Center Laboratories' continued confidence in the global market potential of LT3001. Of the NT$1 billion investment increase approved by the board at the end of last year, a portion remains unused, and further purchases will depend on capital market conditions.
In 2024, Center Laboratories reported consolidated revenue of NT$1.62 billion, with NT$970 million contributed by its pharmaceutical business and NT$650 million from its probiotics business, demonstrating robust growth momentum. However, due to the decline in share prices of its investment targets—Jacobio Pharmaceuticals and Ausnutria Dairy—the company recorded a financial asset valuation loss of approximately NT$1 billion, resulting in a net loss of NT$1.1 billion for the year, with an earnings per share (EPS) loss of NT$1.55.
Despite this, Center Laboratories stressed that its core businesses continue to generate stable cash flow, with a net operating cash inflow of NT$660 million, maintaining a solid financial foundation. With the Hong Kong capital market stabilizing, as of March 14, the valuation of its financial assets has rebounded by about NT$900 million. It is expected that these gains may offset prior valuation losses within the first quarter.
Regarding core business development, Mycenax Biotech has successfully completed a series of international plant inspections and is set to commence mass production and shipment of two newly approved products, marking a significant expansion in the international market. Dongyao Pharmaceuticals turned profitable for the first time in 2024 and is expected to continue its growth trajectory this year. Additionally, Boji Medical submitted its IPO application in Hong Kong earlier this year and is scheduled to be listed on the Hong Kong Stock Exchange by mid-year. Fenghua Biotech also posted over 46% year-on-year revenue growth in 2024, turning profitable and becoming a stable source of earnings.
Lumosa Therapeutics’ new stroke drug, LT3001, successfully completed its Phase II clinical trial in China by the end of 2024. Based on recommendations from potential licensing partners, it has recently concluded its Phase II trials in Europe and the United States ahead of schedule. The company expects to obtain safety data from Caucasian populations within six months and integrate these results with efficacy data from the Chinese trials. Lumosa plans to initiate an End of Phase 2 (EoP2) meeting with the FDA and aims to receive formal feedback on its Phase III trial application by the end of 2025, with Phase III trials potentially starting in 2026. Center Laboratories noted that Lumosa is already engaged in licensing discussions with several major pharmaceutical companies in Europe and the U.S. and expects to secure at least one non-binding term sheet by the end of 2025.
As for shareholders’ concerns about continued investment in Lumosa, Lin Rong-jin reiterated Center Laboratories' confidence in LT3001's global potential. The NT$1 billion additional investment quota approved last year is still available, and further acquisitions will be considered based on market conditions.
Responding to inquiries regarding the group’s losses over the past two years, Lin clarified that although market volatility has led to accounting losses, Center Laboratories' ongoing investments are supported by stable cash flow from its core businesses. This ensures the company’s ability to maintain long-term, steady development despite fluctuations in the market environment.
Resource: 晟德今年將推進多項關鍵里程碑，旗下永昕、順藥皆有斬獲
