- Business
- ORIENT BIO Inc. (002630.KS) operates as a biotechnology company primarily engaged in the production and supply of laboratory animals, including mice, rats, guinea pigs, hamsters, specific pathogen free rabbits and beagles; contract research organization services encompassing safety assessment, new drug development, health checking, genetic testing, molecular biological genetic testing, genetic transformation and phenotyping; research environment equipment and infrastructural solutions; and related products such as specific pathogen free eggs, feeds, reagents and disinfectants. The company serves universities, hospitals, research institutions and biopharma customers in the life sciences and pharmaceutical sectors. Founded in 1959 and headquartered in Seongnam-si, South Korea, ORIENT BIO conducts operations domestically and internationally. In a recent capital-raising move, ORIENT BIO announces plans to sell 9.4 billion won of treasury shares, reflecting ongoing efforts to strengthen its financial position amid bio-industry dynamics. The company previously divested its U.S. subsidiary Orient BioResource Center Inc. to Inotiv Inc. in late 2021 for $51.3 million to focus core competencies, maintaining 125 employees under CEO Jae-Jin Chang.