Invites Biocore Announces Suspension of Biotechnology Business... "Reorganizing Centered on CRO and Quality Business"

KONEX-listed Invites Biocore is officially suspending the operations of its biotechnology business division, which has seen declining profitability, and will completely reorganize its business structure around its flagship CRO (Contract Research Organization) division and pharmaceutical quality business.

According to the Financial Supervisory Service's electronic disclosure system on the 29th, Invites Biocore announced through a major management report (suspension of business) that it is suspending the operations of its biotechnology business division to overcome declining profitability and improve management efficiency due to changes in the business environment.

The suspension amount is 8.73826 billion won, which accounts for 40.4% of the total consolidated sales in 2024 (21.6457 billion won), based on the most recently finalized financial statements at the time of the resolution to suspend operations. The suspension date is December 31, 2025, which is the time of classification as discontinued operations for accounting purposes.

This major management report was finally drafted and submitted after retrospectively classifying it as 'discontinued operations' as of the end of 2025, reflecting the opinions of the external auditor during the settlement review process following the board of directors' resolution on the agenda related to the operation of the biotechnology business division on April 29, 2025.

A company official stated, "As we continue to operate our existing core businesses, the impact on our operating activities and sales as a going concern is limited," adding, "Following the suspension of the biotechnology business division, we have reorganized our business around the CRO business division and are focusing on expanding clinical and analytical testing services and entering new markets such as late-stage clinical trials and digital therapeutic devices."

In addition, they emphasized, "The quality business division, which is expanding its related services in response to the growing demand for pharmaceutical quality control, is also being operated as a core pillar of the company along with the CRO business division," and added, "We will significantly increase management efficiency by improving our fundamentals through the restructuring of underperforming businesses."