[Edaily Reporter Kwon Oh Seok ] It has been confirmed that NGeneBio Co., Ltd.(354200), an artificial intelligence (AI) precision medicine company, is moving forward with the sale of a property it owns in Seongsu-dong, Seongdong-gu, Seoul, to improve its financial structure and enhance the efficiency of its capital management.

According to an E-Daily investigation on the 6th, the company—which is pushing for a transition to a profitability-focused management system—made this decision after comprehensively reviewing the utility value of its assets to alleviate financial burdens and more efficiently allocate resources to its core businesses. An industry official explained, “NGeneBio Co., Ltd. is reviewing various options for liquidating the asset based on the expected medium- to long-term benefits of holding the property and its current financial conditions.”
The property in question is a building that NGeneBio Co., Ltd. acquired last year for approximately 23.7 billion won with the aim of securing a new integrated hub. At the time, the company decided to make the acquisition considering the potential for improved operational efficiency and increased asset value; however, after reevaluating its financial priorities and capital management plans, it decided to prioritize securing liquidity. The estimated market value of the property is currently approximately 37.2 billion won, which is about three times the market capitalization of NGeneBio Co., Ltd. based on the previous day’s (the 5th) closing price.
It is reported that NGeneBio Co., Ltd. plans to use these funds to repay its 6th series of convertible bonds, among other purposes, and allocate the remaining funds to medium- to long-term business operations. The company’s policy is to improve its financial structure and maintain stable business operations by liquidating held assets and reorganizing existing businesses with a focus on profitability.
In this regard, a representative of NGeneBio Co., Ltd. stated, “We plan to improve our debt-to-equity ratio and secure stability in working capital through the liquidation of our assets, and based on this, focus on the sustained growth of our diagnostics business and enhancing corporate value.”
NGeneBio Co., Ltd. is focusing on improving its financial performance, having recorded consolidated revenue of 12.45207 billion won in the second quarter of this year—a 574% increase compared to the previous year (1.84814 billion won). While expanding its business centered on next-generation sequencing (NGS) precision diagnostic panels and analysis software, the company is also accelerating efforts to establish a proprietary technology foundation to strengthen its competitive edge.