Genomics BioSci & Tech. (Genomics) held its annual shareholders’ meeting on the 20th, approving a cash capital increase through public offering in preparation for its initial public offering (IPO). Shareholders also agreed to waive their preemptive rights, officially initiating the company’s IPO process. Chairman Meng-Hsien Chou stated that following a strategic business realignment, the company is now focused on revenue growth and aims to achieve profitability this year.

At the meeting, chaired by Chou, shareholders approved the 2024 business report, financial statements, and loss appropriation plan. Genomics reported a consolidated revenue of NT$483 million with a per-share loss of NT$3.08. The resolution to proceed with a public offering prior to listing and for existing shareholders to forgo subscription rights marked a pivotal step toward the company's market debut.

Chou expressed gratitude to the board and shareholders for their support and noted that the company achieved record-high consolidated revenue last year, primarily driven by growth in its next-generation sequencing (NGS) services and instrumentation business. However, losses were incurred due to increased personnel and marketing expenses, as well as equity method investment losses and valuation losses on financial assets. With strategic adjustments now in place, the company is determined to boost revenue and turn profitable this year.

The transformation efforts have already begun to bear fruit. As of May, Genomics recorded NT$232 million in consolidated revenue for the first five months of 2024, a 36.26% year-over-year increase and the highest in its history for that period. The company expects continued revenue growth from its instrumentation division, fueled by NGS’s inclusion under Taiwan’s National Health Insurance system—boosting the establishment of molecular labs for precision medicine—and rising demand for CDMO (contract development and manufacturing organization) facilities for cell therapy. Additionally, new environmental regulations are expected to drive replacement demand for refrigeration and freezing equipment, contributing further to instrumentation revenue.

In regulatory affairs, Genomics previously secured registration for three laboratory-developed tests (LDTs) with Taiwan’s TFDA over the past two years. The company continues to expand its portfolio, having submitted nine additional LDT applications. These include companion diagnostics for anti-cancer therapies, genetic testing for inherited metabolic and rare diseases, prenatal and neonatal chromosomal and genetic screening, cancer diagnostics and prognostics, and pharmacogenomics tests for adverse drug reactions and drug metabolism—signaling a strategic expansion into the high-end NGS testing market.

Genomics also made notable progress in its overseas expansion. A pilot NGS service project in Indonesia received strong feedback from clients. In mid-June, local partner Auror Biosains Nusantara (Auror) visited Taiwan to sign an exclusive NGS distribution agreement and participate in a five-day training program. Combining Genomics’ cutting-edge solutions with Auror’s localized distribution network, the partnership aims to accelerate the adoption of NGS in Indonesia’s agriculture and precision medicine sectors.

Aligning with Taiwan’s New Southbound Policy, Genomics plans to use Indonesia as a gateway to expand its presence across Southeast Asia. Through participation in regional flagship exhibitions and ongoing partnership discussions in Thailand, Vietnam, and Malaysia, the company is working to enhance the impact and market penetration of its latest generation of sequencing technologies, with the goal of establishing a leading gene sequencing center in the Asia-Pacific region.

Looking ahead to the second half of the year, Genomics anticipates continued growth in instrumentation orders and NGS service demand, alongside increased contributions from international markets and potential approvals of its pending LDT applications. The company is optimistic about achieving new revenue highs and remains committed to returning to profitability in 2024.

Resource: 基米2025年拚獲利，將啟動IPO