Prognosis
Virus Test-Kit Maker Meets Demand That Lifts Founder’s Fortune
- Seegene shares rose 89% this year as number of cases mounted
- Founder Chun Jong-yoon’s holding is now worth $225 million
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When Seegene Inc. started developing a coronavirus test kit in late January, the South Korean company was uncertain about the potential demand as there were just a few confirmed cases in the country at that point. Today, it’s churning out tens of thousands amid a pandemic.
Shares of Seoul-based Seegene have surged 89% this year, boosting the value of founder Chun Jong-yoon’s 18% stake to $225 million.