[Edaily Reporter SONG YOUNG-DOO ] NIBEC CO., LTD.(138610)Despite a base effect resulting from the recognition of advance payments for technology transfers last year, the company continued its growth momentum in its core business centered on regenerative biomaterials. Global development of “ORJ-001,” a treatment for pulmonary fibrosis that was licensed out, is also gaining momentum as the company prepares for clinical trials in Europe following approval for a Phase 2 clinical trial in the U.S.

On the 14th, NIBEC CO., LTD. announced that it recorded cumulative revenue of 11.3 billion won, operating profit of 240 million won, and net income of 1.53 billion won for the first half of this year.

Although total revenue decreased compared to the same period last year, this was largely due to the base effect resulting from the large-scale technology transfer advance payment recognized last year. Last year, in the second quarter, NIBEC CO., LTD. recognized approximately 10.9 billion won in advance payments from the technology transfer of a fibrosis treatment as revenue in a single installment, resulting in record-high quarterly revenue of 15.8 billion won and operating profit of 8.4 billion won.

Excluding one-time technology transfer revenue, growth in its core business continued. In the second quarter of this year, revenue from core businesses—such as tissue-regenerative biomaterials—totaled 6 billion won, an increase of approximately 23% compared to the 4.87 billion won in revenue (excluding technology transfer revenue) reported in the second quarter of last year.

NIBEC CO., LTD.’s strategy is to expand revenue steadily through its tissue regeneration biomaterials business while simultaneously pursuing global clinical development of the new drug pipeline it transferred last year.

In particular, the development of ORJ-001 (formerly NP-201), a pulmonary fibrosis treatment licensed last year, has entered the full-scale clinical phase. Partner company Oorja Bio obtained approval from the U.S. Food and Drug Administration (FDA) in May to proceed with a Phase 2 clinical trial for ORJ-001.

The company is currently preparing a Clinical Trial Application (CTA) to simultaneously pursue Phase 2 clinical trials in Europe alongside those in the U.S. NIBEC CO., LTD. completed the supply of investigational drugs required for the U.S. clinical trial at the end of last year and is proceeding with follow-up supply procedures in line with the global clinical trial schedules in the U.S. and Europe.

NIBEC CO., LTD. official stated, “It is important to distinguish between the base effect resulting from last year’s technology transfer revenue and the growth trend of our core business. As our tissue regeneration biomaterials business continues to grow steadily, the foundation of our business—excluding technology transfer revenue—is becoming even stronger,” the official said. “ORJ-001 is also advancing through its development stages following the technology transfer, with approval for a U.S. Phase 2 clinical trial and preparations for a European trial underway. We will expand our stable revenue base in our core business while simultaneously enhancing our mid- to long-term corporate value through clinical progress in our technology transfer pipeline.”