CGbio (CEO Yu Hyun-seung), a company specialized in regenerative medicine, announced on March 22 that it has signed a five-year contract worth 10 billion KRW with Kerunxi Medical, a Chinese specialized in dental equipment, for export of Bongros Dental, a bone graft material.
Kerunxi is headquartered in the Chinese city of Nanjing and operates production bases in Nanjing and Zhengzhou. The company manufactures dental implants and digital equipment for sale across China, while directly operating dental clinics in those areas.
This contract follows the signing last month of a contract worth 100 billion won with Shanghai Sanyou Medical, a Chinese medical device company, for export of Bongros, leading to assessments that all Bongros product lines have successfully settled in the Chinese market.
Bongros is a bone substitute made of hydroxyapatite ceramic that is crystallographically and chemically identical to the inorganic components of human bones. It is used to replace and repair defective parts of bone implants. It has a pore structure (300 μm) that is optimal for quick growth of new bone and blood vessels, while directly bonding with the surrounding bone tissue after being transplanted into the human mouth.
Bongros is used as a carrier for NOVOSIS, a bone substitute that contains large amounts of the protein and promotes bone formation (rhBMP-2) by rapidly differentiating stem cells into bone cells. NOVOSIS is a next-generation dental bone replacement used in patients undergoing alveolar bone regeneration or reconstruction. It is a major global export item that was involved in a contract worth 600 billion KRW signed in 2019 with a Japanese pharmaceutical company.
CEO Yu Hyun-seung said, “Through this contract, we will enhance our brand image while at the same time solidifying the position of Bongros in the Chinese dental bone replacement market, which is worth around 100 billion KRW. We will make efforts to establish ourselves as a genuine market leader with the launch of NOVOSIS, which is set to be approved by China’s National Medical Products Administration in 2024.”
Meanwhile, Bongros has a line of products that includes dental and orthopedic. It strengthened its global expansion in 2019 by signing an export contract with Kalbe Farma, an Indonesian company.
