News
2024.01.23
Targeting Chinese and global markets from 2025
The Human Milk Oligosaccharide (HMO) substitute product developed by Coree Group is on the brink of commercialization.
Coree Group, an affiliate of Hanmi Pharmaceutical Group, recently announced on the 23rd that it is on the verge of commercializing an oligosaccharide developed at the Coree Italy AAT Microbiome Research Institute (AAT Research Institute) that can substitute for HMO functions while excluding artificial elements. Coree Group is responsible for research and development, while Dx&Vx will handle production and global market sales.
Human breast milk is known to be rich in human milk oligosaccharides (HMOs), proteins, lipids, and other immune-related components, making it the first functional food that infants encounter after birth. According to the World Health Organization (WHO), breastfeeding is highly recommended for the first six months after birth, and the supply of breast milk should continue along with appropriate complementary foods up to the age of two years.
Han Sung-joon, CTO of Dx&Vx, said"While some multinational companies have developed artificial HMO products using genetic modification technology and other advancements, there are several issues such as high production costs, low yield, and the risk of biological rejection due to artificial manufacturing processes, which necessitate alternatives. Therefore, we anticipate that the development of HMO substitutes by Kori Group, excluding artificial elements, will serve as a cornerstone for surpassing Abbott, a role model in this field."
The market size of human milk oligosaccharide (HMO) products is projected to grow from approximately 280 billion Korean won in 2022 to around 1.5 trillion Korean won by 2030. Dx&Vx plans to enhance profitability by securing rights to the global market, including China, and supplying raw materials worth about 500 billion won starting from 2025. They also aim to expand their lineup focusing on infant formula and their own brand biohealthcare products. For the European market, Coree Italy's local subsidiary is planning to establish a direct sales network.
Source: etoday