MIRA
INFORM REPORT
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Report Date : |
04.11.2008 |
IDENTIFICATION
DETAILS
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Name : |
UNIGEN, INC. |
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Registered Office : |
200-1, Songjeong-ri, Byeongcheon-myeon, Dongnam-gu, Cheonan-si, Chungcheongnam-do 330-863 |
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Country : |
Korea |
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Financials (as on) : |
31.12.2007 |
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Date of Incorporation : |
24.03.2000 |
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Com. Reg. No.: |
215-81-89284 |
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Legal Form : |
Company Limited by Shares |
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Line of Business : |
Manufacture of Biological Products Manufacture of Health Foods |
RATING &
COMMENTS
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MIRA’s Rating : |
Ba |
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RATING |
STATUS |
PROPOSED CREDIT LINE |
|
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41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
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Status : |
Good |
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Payment Behaviour : |
No Complaints |
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Litigation : |
Clear |
Basic
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Company
Name |
UNIGEN, INC. |
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Registered Address |
200-1, Songjeong-ri, Byeongcheon-myeon,
Dongnam-gu, Cheonan-si, Chungcheongnam-do, Korea |
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Zip Code |
330-863 |
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Tel |
+82-41-529-1500 |
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Fax |
+82-41-529-1599 |
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E-mail |
recruit@unigen.net |
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Website |
www.unigen.net |
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Trading Address |
200-1, Songjeong-ri, Byeongcheon-myeon,
Dongnam-gu, Cheonan-si, Chungcheongnam-do, Korea |
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Tel |
+82-41-529-1500 |
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Fax |
+82-41-529-1599 |
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Type |
Import/Export |
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Industry |
Manufacture of Health Foods |
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Main Business |
Health Foods, Cosmetics |
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Sub Business |
Manufacture of Biological Products |
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Established (mm/dd/yyyy) |
03/24/2000 |
The Subject owns
the premises of registered HQ address(15,414㎡).
Detailed Products
|
Activity |
Detailed Products (UNSPSC) |
|
Sell |
Herbal drugs(51212000) |
|
Sell |
Cosmetics(53131619) |
|
Sell |
Formulas and products for nutritional
support(42231800) |
CEO’s
|
Name |
Ed Cannon |
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Address |
1063, Banner Square, Powder Springs,
Georgia, USA |
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Date of Birth |
08/24/1946 |
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Title |
President & Chief Executive Officer |
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Sex |
Male |
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Nationality |
USA |
Dr. Cannon joined Unigen
in July 2008 as President and CEO. His prior experience includes, CEO of
AerovectRx, and aerosol therapeutics company based in Atlanta, Georgia, where
he continues to serve as Executive Chairman. He also acted as President, CEO
and a director of AdipoGenix; the founding CEO of Elixir Pharmaceuticals; a
founder, director, and President Therapeutics Division of Dyax Corp.; and a
founder, director and CSO of Hygeia Sciences, the leading developer worldwide
of monoclonal antibody-based home diagnostic products.
He continues to be
a director of AdipoGenix, a Boston-based biopharmaceutical company developing
small molecule drugs to treat metabolic diseases, and is also a director of
Smart Cells Inc. He earned his doctorate in biochemistry at the University of
Georgia, trained in molecular immunology at Harvard Medical School and has held
faculty positions at Brandeis University and University of Massachusetts
Medical School.
Profiles
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Capital |
4,099,411,500 KRW |
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Employees |
30 |
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Formation |
Co., Ltd by shares Venture Business |
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Bank Details |
Industrial Bank of Korea Korea Exchange Bank |
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Corporate Registered No. |
110111-1918981 |
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Business Registered No. |
215-81-89284 |
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Permit & Licenses |
Patent: 20080234207 Pharmaceutical Composition for
Preventing and Treating Diabetes or Glucose Control Abnormality Comprising
Ginsenosides 09-25-2008 20080214658 Composition Comprising
Isoorientin for Suppressing Histamine 09-04-2008 Int’l Trade No.: 11862413 |
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Shareholder Position |
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Company History |
03/24/2000 Incorporated as the present
name after taking over Life Science Business Division from NAM YANG CO., LTD.(110111-0236201) 01/02/2006 Moved
to the present HQ address from 182-2, Bangi-dong, Songpa-gu, Seoul, Korea |
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Management
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Job Description |
Title |
Name |
Sex |
Nationality |
Inauguration Day |
|
President & CEO |
Ph.D |
Ed Cannon |
Male |
USA |
07/17/2008 |
|
Director |
Mr. |
Lee Byung-Hoon |
Male |
Korean |
03/31/2006 |
|
Director |
Mr. |
Cho Tae-Young |
Male |
Korean |
03/31/2006 |
|
Director |
Mr. |
Woo Sung-Sik |
Male |
Korean |
03/31/2006 |
|
Director |
Mr. |
Lee Seung-Ki |
Male |
Korean |
03/31/2006 |
|
Director |
Mr. |
Lee Jang-Woo |
Male |
Korean |
03/31/2006 |
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Director |
Mr. |
Kim Dong-Sik |
Male |
Korean |
03/31/2006 |
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Director |
Mr. |
Yoon Kyung-Soo |
Male |
Korean |
09/27/2006 |
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Auditor |
Mr. |
Shim Ho-Young |
Male |
Korean |
09/27/2006 |
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Supervisor |
Mr. |
Pyo Chang-Min |
Male |
Korean |
07/17/2008 |
Financials
Unit: KRW
|
Year |
Sales |
Assets |
Net income |
|
10,319,409,958 |
16,911,060,804 |
1,917,163,046 |
|
|
2006 |
14,201,623,782 |
16,784,736,261 |
2,405,984,703 |
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2005 |
11,486,630,879 |
15,038,302,273 |
1,155,298,998 |
|
2004 |
11,486,630,879 |
15,038,302,273 |
1,155,298,998 |
|
2003 |
8,215,037,822 |
14,304,402,865 |
282,056,038 |
Financial Description
Unit: KRW
|
Authorized Capital |
20,000,000,000 |
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Paid-Up
Capital |
4,099,411,500 |
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Total Issues Shares |
8,198,823 |
Balance
Sheet
|
Unit : Korean Won |
As of 12/31/2007 |
As of 12/31/2006 |
As of 12/31/2005 |
|
Total Assets |
16,911,060,804 |
16,784,736,261 |
15,038,302,273 |
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Current Assets |
5,644,563,708 |
6,114,577,957 |
4,692,603,848 |
|
-Quick Assets |
4,758,584,716 |
4,817,126,621 |
4,248,818,474 |
|
-Inventories |
885,978,992 |
1,297,451,336 |
443,785,374 |
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Fixed Assets |
11,266,497,096 |
10,670,158,304 |
10,345,698,425 |
|
-Investment |
1,717,751,141 |
464,927,274 |
522,130,000 |
|
-Tangibles |
7,064,372,472 |
7,195,475,108 |
6,998,530,456 |
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-Intangibles |
2,476,193,483 |
2,681,575,922 |
2,825,037,969 |
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-Others |
8,180,000 |
328,180,000 |
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Total Liabilities |
3,420,804,510 |
5,331,523,747 |
5,991,341,736 |
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Current Liabilities |
2,561,370,103 |
3,446,894,175 |
2,862,540,512 |
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Fixed Liabilities |
859,434,407 |
1,884,629,572 |
3,128,801,224 |
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Capital Stock |
4,099,411,500 |
4,099,411,500 |
4,099,411,500 |
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Capital Surplus |
4,784,710,766 |
4,784,710,766 |
4,784,710,766 |
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Profit Surplus |
4,485,986,020 |
2,568,822,974 |
162,838,271 |
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Capital Adjustment |
120,148,008 |
267,274 |
- |
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Total Equity |
13,490,256,294 |
11,453,212,514 |
9,046,960,537 |
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Liab. &
Shareholder’s Equity |
16,911,060,804 |
16,784,736,261 |
15,038,302,273 |
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Current
Liabilities |
2,561,370,103 |
3,446,894,175 |
2,862,540,512 |
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Trade Payables |
238,678,080 |
263,392,640 |
616,072,937 |
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Advance Receipts |
202,864,342 |
423,697,008 |
438,307,550 |
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Short-Term Borrowings |
527,737,501 |
976,012,730 |
191,457,000 |
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Account Payables |
- |
- |
15,172,632 |
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Withholdings |
24,131,230 |
38,642,390 |
29,075,785 |
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Accrued Expenses |
407,453,950 |
636,349,407 |
463,654,608 |
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Current Portion of Long-Term
Debts |
1,110,150,000 |
1,108,800,000 |
1,108,800,000 |
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Others |
50,355,000 |
- |
- |
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Fixed
Liabilities |
859,434,407 |
1,884,629,572 |
3,128,801,224 |
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Long-Term Borrowings |
257,650,000 |
1,367,800,000 |
2,476,600,000 |
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Long-Term Account Payables |
183,720,000 |
176,460,000 |
151,200,000 |
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Provision for Severance &
Retirement |
460,107,447 |
375,888,557 |
553,997,445 |
Income
Statement
|
Unit : Korean Won |
As of 12/31/2007 |
As of 12/31/2006 |
As of 12/31/2005 |
|
Sales |
10,319,409,958 |
14,201,623,782 |
11,486,630,879 |
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Cost of Sold Goods |
4,050,333,155 |
7,773,067,557 |
7,371,274,231 |
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Gross Profit |
6,269,076,803 |
6,428,556,225 |
4,115,356,648 |
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Selling & Admin. Expenses |
4,907,137,956 |
4,105,578,626 |
3,012,535,246 |
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Operating Income |
1,361,938,847 |
2,322,977,599 |
1,102,821,402 |
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Non-Operating Income |
828,632,094 |
473,611,170 |
358,534,766 |
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Non-Operating expenses |
273,407,895 |
390,604,066 |
306,057,170 |
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Ordinary Income |
1,917,163,046 |
2,405,984,703 |
1,155,298,998 |
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Special Income |
- |
- |
- |
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Income Before Taxes |
1,917,163,046 |
2,405,984,703 |
1,155,298,998 |
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Income Taxes Expenses |
- |
- |
- |
|
Net Income |
1,917,163,046 |
2,405,984,703 |
1,155,298,998 |
Cash
Flows
|
Unit : Korean Won |
As of 12/31/2007 |
As of 12/31/2006 |
As of 12/31/2005 |
|
Cash Flows from Operating |
2,605,485,619 |
2,025,605,538 |
2,339,373,520 |
|
-Net Income |
1,917,163,046 |
2,405,984,703 |
1,155,298,998 |
|
-Exp. without Cash Outflow |
1,009,029,201 |
1,037,357,378 |
893,795,295 |
|
-Revenue
without Cash Inflows |
(-)193,850,076 |
(-)11,510,807 |
(-)30,785,327 |
|
-Changes in
Asset/ & Liability |
(-)126,856,552 |
(-)1,406,225,736 |
321,064,554 |
|
Cash Flows
from Investing |
(-)461,118,445 |
(-)1,739,736,931 |
(-)21,150,002 |
|
-Cash Inflow
from Investing |
2,559,402,384 |
1,530,523,785 |
1,621,954,587 |
|
-Cash
Outflows for Investing |
(-)3,020,520,829 |
(-)3,270,260,716 |
(-)1,643,104,589 |
|
Cash Flows
from Financing |
(-)1,562,560,229 |
(-)322,938,735 |
(-)1,211,765,964 |
|
-Cash
Inflows from Financing |
2,418,135,650 |
5,894,749,124 |
3,770,899,738 |
|
-Cash
Outflows from Financing |
(-)3,980,695,879 |
(-)6,217,687,859 |
(-)4,982,665,702 |
|
Increase/Decrease in Cash |
581,806,945 |
(-)37,070,128 |
1,106,457,554 |
|
Cash at the Beginning of Year |
1,315,276,407 |
1,352,346,535 |
245,888,981 |
|
Cash at the End of Year |
1,897,083,352 |
1,315,276,407 |
1,352,346,535 |
Products, Technologies, Services
Description
|
Main
Products & Services |
Research & Development : The Subject
Company Organic Synthesis -Synthesize novel drug and cosmetic
candidates based on natural product lead compound -Provide quantities of identical synthetic
compounds as found in nature when biomass is in limited supply -Enable protection of intellectual property
through patents Phytologix® -An extensive collection of more than 8,000
medicinal plants. -Proprietary informatic database with
traditional, historic usage and modern research of the collected plants,
access to a structure database with over 170,000 natural products. -A natural product library with >9,000
plant extracts, >200,000 HTP fractions ready for high throughput
screening. Discovery -Indication directed and novel mechanism of
action and/or specific therapeutic value derived screen target selection. -High throughput primary screening. -Rapid structure dereplication, assay
directed active identification and chemical composition profiling. -Evaluation and confirmation of safety and
therapeutic efficacy with activity towards a clinical endpoint, is achieved
through a variety of secondary screens, at the cellular, proteomic and
genetic levels. The validation process is designed to establish efficacy,
safety and toxicity profiles, bio-availability assessments, and dose
determination. -This sophisticated process yields
patentable compounds and proprietary ingredients with market identification and
differentiation. Cultivating of Nature Materials in Mexico,
China and Russia Production & Process : NAM YANG CO., LTD.(110111-0236201) Distribution : NAMYANG ALOE CO., LTD. Brand Name : PhytoLogix, GenoActive,
UNIVESTIN, SOLIPRIN, LASOPERIN, TRUNORIN, UNIBEX, UNIFLAVON |
Trade
Partners
|
Suppliers |
UNIVERA H.K |
|
Customers |
UNIVERA CO., LTD.(110111-1953797) NATURETECH ALOECORP. UNIGEN RUSSIA ECONET GROUP UPI |
Related Parties (Subsidiaries,
Joint-Venture & Affiliates)
|
Affiliates |
UNIVERA CO., LTD.(110111-1953797) UPI UNIVERA H.K |
|
Overseas Office |
UNIGEN PHARMACEUTICALS, INC. 2660 WILLAMETTE DR NE LACEY, WA 98516 USA TEL:+1 360 486 8200 FAX:+1 360 413 9135 UNIGEN EUROPE 50 RUE EMILE SEMAL 1310 LA HULPE, BELGIUM TEL:+32 (0)473 19 75 46 FAX:+1 360 413 9135 |
|
Corporate Ownership |
NAM YANG CO.,
LTD.(110111-0236201) 370-92, YONGJEONG-RI, CHOPYEONG-MYEON,
JINCHEON-GUN, CHUNGCHEONGBUK-DO, KOREA TEL:+82-43-532-5144 FAX:+82-43-532-5328 |
|
Major Shareholders |
NAM YANG CO.,
LTD.(110111-0236201) 370-92, YONGJEONG-RI, CHOPYEONG-MYEON,
JINCHEON-GUN, CHUNGCHEONGBUK-DO, KOREA TEL:+82-43-532-5144 FAX:+82-43-532-5328 |
|
Cooperative Enterprise |
-Insured Company LIG INSURANCE CO., LTD(110111-0017859) KYOBO LIFE INSURANCE CO.,
LTD(110111-0014970) |
Sales by
Region (Activity &
Markets)
The Subject imports from China, Russia and Mexico.
Court
Action
No.
News Clipping --
FOREIGN EXCHANGE
RATES
|
Currency |
Unit
|
Indian Rupees |
|
US Dollar |
1 |
Rs.48.62 |
|
UK Pound |
1 |
Rs.76.71 |
|
Euro |
1 |
Rs.61.30 |
RATING
EXPLANATIONS
|
RATING |
STATUS |
PROPOSED CREDIT LINE |
|
|
>86 |
Aaa |
Possesses an extremely sound financial base with the strongest capability
for timely payment of interest and principal sums |
Unlimited |
|
71-85 |
Aa |
Possesses adequate working capital. No caution needed for credit
transaction. It has above average (strong) capability for payment of interest
and principal sums |
Large |
|
56-70 |
A |
Financial & operational base are regarded healthy. General
unfavourable factors will not cause fatal effect. Satisfactory capability for
payment of interest and principal sums |
Fairly Large |
|
41-55 |
Ba |
Overall operation is considered normal. Capable to meet normal
commitments. |
Satisfactory |
|
26-40 |
B |
Unfavourable & favourable factors carry similar weight in credit
consideration. Capability to overcome financial difficulties seems comparatively
below average. |
Small |
|
11-25 |
Ca |
Adverse factors are apparent. Repayment of interest and principal sums
in default or expected to be in default upon maturity |
Limited with
full security |
|
<10 |
C |
Absolute credit risk exists. Caution needed to be exercised |
Credit not
recommended |
|
NR |
In view of the lack of information, we have no basis upon which to
recommend credit dealings |
No Rating |
|
This score serves as a reference to assess SC’s credit risk
and to set the amount of credit to be extended. It is calculated from a
composite of weighted scores obtained from each of the major sections of this
report. The assessed factors and their relative weights (as indicated through
%) are as follows:
Financial
condition (40%) Ownership
background (20%) Payment
record (10%)
Credit history
(10%) Market trend
(10%) Operational
size (10%)