Steady progress, overseas revenue exceeds 30%

[Rina123RS]

From the "zero revenue" status in the past to the current CDMO contribution of 100% revenue and stable working capital, Taibao is further shifting its CDMO customers from Taiwan to connect more international customers. In September this year, international customers accounted for more than 30% of revenue, "and it can reach 60% by the end of the year." Yang Junyao's confidence, with the launch of cooperation projects with Harvard and other indicators, has allowed Taibao to gain a higher international reputation. .

The strategy of locking in cell-based CDMOs has also allowed Taibao to firmly establish its growth trend. Research agency Precedence Research reports that the global regenerative medicine market will grow at a compound annual growth rate of 22.8% from 2023 to reach US$174.7 billion in 2023, of which cell therapy corresponding to cell drugs will account for more than 50% The most important project.

However, while Taibao is developing its CDMO, the research and india telegram development of new drugs for degenerative arthritis and acute myocardial infarction are still ongoing, and financial pressure remains. "The cost of OEM and the cost of maintaining the laboratory are very high." Luo Minjing, a partner at Blackwood Investment, said bluntly that if the OEM mainly focuses on new customers, it will still be limited by insufficient scale, making it difficult to balance profits and losses.

For Taibao, it has gradually found another development direction from new drug research and development. Relying on the gradual stabilization of the cell-based CDMO business and the support of external shareholders such as High-end, it not only allows the research and development of new drugs to continue, but also enters the international market in another way.