Thursday, Sep 20, 2018
Vision/Mission
Macrogen carries the slogan “Humanizing Genomics” and emphasizes on helping to improve quality of life for all humanity by enhancing the understanding and accessibility of human genome information.
We envision on becoming the “Leader of the Asian biotech industry” with new medicine development capabilities based on race-specific “medical treatment/genomic information integrated content”.
Business Description
Founded in June 1997, Macrogen has been enhancing its study and service infrastructure, building a global genome network, expanding the base of new growth business – clinical diagnosis sequencing, molecular diagnosis – and existing core business (capillary sequencing, next generation sequencing).
Macrogen’s global genome network has been established mainly in Europe, Japan, and Central and South America, through which Macrogen has been discussing its big joint genome research program. Especially in Korea, its ‘Genome Center’ for patient-specific medical service is in the course of establishment, which will contribute to the expansion of the service infrastructure of clinical diagnosis sequencing and molecular diagnosis.
Macrogen has signed an agreement with major medical centers such as Seoul National University Bundang Hospital, National Cancer Center, Korea University Anam Hospital, and Kyungpook National University Medical Center, and will establish a ‘Precision Medicine Center’ with them.
The genome projects, mainly ‘Asian 10,000 Genome Project’ and ‘Genome Asia 100K Initiative’, concerning healthcare genome information combined with the processing technology of big data, have been being specifically proceeded. The company has been focusing on business.
Group Properties
Macrogen Inc.
Macrogen Corp. USA
Macrogen Japan Corp.
Macrogen Europe
MGMED Inc.
Background
Macrogen is a biotechnology company. It started as a laboratory venture that spun off from the Gene Transplantation Research Institute, School of Medicine, Seoul National University in 1997. Founding Chairman Jeong-Sun Seo was a professor at the Seoul National University. His desire to do research compelled him to start Macrogen.
Macrogen was listed on KOSDAQ in 2000, becoming the first bio-venture company to go public in Korea.
We provide gene-genome analysis services to global clients and participate in various human genome projects.
Products/Services
* Sequencing
The gene∙genome analysis service provides capillary DNA sequencing and NGS (Next Generation Sequencing) on various sequencing platforms to clinical professionals and researchers in academia.
* Oligo
The oligo synthesis service is supported by state-of-the-art machinery and Macrogen’s own LIMS system, as well as its own MOPCTM purification method.
* Microarray
The biochip business provides gene analysis service and individualized diagnostic service with Macrogen’s self-developed DNA chips.
* Transgenic & Knockout Mouse
This service provides animal models through gene-manipulated transgenic and gene knockout technologies.
* Bioinformatics
With BT & IT human resources at its Bioinformatics Research Center, Macrogen’s bioinformatics service provides total solution services including database construction, genome research, and bioinformatics comprehensive analysis system consulting services.
* Clinical & Molecular Diagnostic Service
Our genetic and genomic analysis services for the general public so that they can use information on genetic makeup in everyday life.
Markets
About 70% of consolidated net sales are generated form more than 150 countries outside of Korea. Macrogen has expanded its business to various countries, such as the USA, Japan, Europe, and so on.
Industry
Gene and genome sequencing service market.
Location
From its headquarters in Korea, Macrogen branches out into several countries and regions as follows:
Headquarters: World Meridian Venture Center 10F, #60-24, Gasan-dong, Geumcheon-gu, Seoul, Korea
Macrogen Corp. (USA): 9700 Great Seneca Highway, Rockville, MD 20850, USA
Macrogen Japan Corp.: 3F Kyoto University International Science Innovation Bldg., 36-1 Yoshida-honmachi, Sakyo-ku, Kyoto 606-8501 Japan
Macrogen Europe: Meibergdreef 31, 1105AZ, Amsterdam, The Netherlands
Competitive Advantages
The competitiveness of Macrogen is in its superior process optimization and analysis competency. Macrogen has been providing diffentiated services since the beginning of 2000, with lower cost services based on capillary sequencing that analyzes DNA with first generation gene analyzers, and a fast turn-around-time of 48 hours.
Macrogen launched a $5 analysis service in the genomic analysis market saturated with developed countries’ research groups, providing an exceptional price point compared to the competitors, whose cost was $15-$20.
Despite concerns over its low price, Macrogen maximized the technology level with continuous trials, and successfully optimized the amount of analytic reagent, which has the biggest fraction of the cost, and the study of increasing the accuracy of data. Macrogen has the biggest market share in gene and genome sequencing market with its superior analysis capability and know-how, even with competitors that have similar or the same platforms.
Financial Projection
FY2015 business forecast
Net Sales: 79,300 million won (+47%)
Operating Income: 4,900 million won (+87%)
Net Income: 5,800 million won (+90%)
*Percentage figures denote increases or decreases compared with the same period of the previous fiscal year.
Company Goals & Objectives
With a vision of being a ‘global leading company in the precision medicine area’ in the 21st century, Macrogen aims to be at the frontier of the ‘Asian Genome Database’, in order to create an outcome in clinical diagnosis sequencing and molecular diagnosis.
Macrogen also aims to expand into the smart healthcare business, combining genome and medical information.
Management
Board of Directors (as of June 20, 2016)
Chairman: Jeong-Sun Seo
CEO: Hyon-Yong Chong
CFO: Ji-Young Moon
COO: Su-Gang Lee
CTO: Chang-Hoon Kim
Management Philosophy:
Global leading company in precision medicine
- Establish the foundation in precision medicine
- Establish a self-supporting accounting system
- Build a strong global management system
Employees
316 (as of June 1, 2016)
Highlights
1997: Established Macrogen Inc.
2000: Established the DNA Chip Service Center
Listed on the KOSDAQ market among bio-venture firms for the first time
Analyzed Zymomonas mobilis for the first time in the world
Opened a biomedical and bioinformatics research institute
2001: Cloned mice for the first time in Korea
Completed a draft on Korean BAC Clone Map
2002: Established MGenbio Inc., a xenotransplantation-specialized company
2003: Developed BAC DNA chip
2004: Established Macrogen Young Scientist Award in the Korean Society for Biochemistry and Molecular Biology
2005: Established Macrogen, Corp. in the USA
Produced cloned pigs to cure diabetes (MGenBio)
Produced (for the first time) cloned pig for transformational anticancer substances
2006: Won approval of Array CGH DNA chips for diagnostic purpose of chromosomal abnormalities (Macrogen BAC Chips H1440) from the KFDA as IVD test
Awarded for ‘Macrogen BAC Chips H1400 (which diagnoses chromosomal abnormalities)’ at the Great Technological Contest
2007: Established Macrogen Japan Corp.
2008: Opened Macrogen European Branch (Amstelveen, Netherlands)
2010: Certified as Roche NimbleGen Array Service Provider for Korea
Joined the ‘Illumina Genome Network’ in collaboration with the Genomic Medicine Institute, Seoul National University, College of Medicine
2011: Launched the Global Premium Sequencing Brand, AxeqTM
2012: Certified CE mark of Macrogen BAC Chip H1440 for chromosomal anomalies
Established Macrogen Clinical Laboratory, Inc. in the USA
2013: MCL, Certified CLIA (Clinical Laboratory Improvement Amendments) for clinical
sequencing services
2014: Contracted with Illumina as a priority client for Hiseq X Ten
MG MED, a subsidiary of Macrogen, listed on KONEX market
2015: Launched a new CI and slogan
Selected as a ‘KOSDAQ rising star 2015’ by the Korea Exchange
Selected as an institute for a ‘Young female researcher supporting program’ by the Ministry of Trade, Industry & Energy
Selected as managing institute for the ‘Development of Korean Foundation Medicine model for personalized cancer treatment’ project by the Ministry of Trade, Industry & Energy
2016: Selected as a ‘KOSDAQ rising star 2016’ by the Korea Exchange
Selected as a ‘World Class 300’ by the Ministry of Trade, Industry & Energy, Small and Medium Business Administration
Company Website
Health | Asia-Pacific | South Korea
In a country where the failure rate of start-ups has been traditionally high, Macrogen stands... Jul 15, 2016
Health | Science & Technology | Asia-Pacific | South Korea
Biotechnology has been identified as a potential new growth engine for the Korean economy,... Sep 09, 2016
When being part of a generation on which the flag of entrepreneurship seems to be constantly waving in the sea of young professionals looking to succeed in the business world, more often than not, we tend to drown in the... Read More
The Worldfolio provides intelligence about the economies with the highest growth potential in the world, with a focus on understanding them from within.
PUBLICATIONS
