Syntekabio wins SI deal from HYBE’s Weverse unit

Syntekabio‘s push to diversify its business is gaining traction. The company recently secured a contract through its newly launched system integration, or SI, division from Weverse Company, a subsidiary of HYBE, marking what is expected to be a key milestone in its mid- to long-term growth strategy.

Syntekabio said in a regulatory filing on the 17th that it signed a contract with Weverse Company to implement a service user interface, or UI. The total contract value is about 400 million won, equivalent to roughly 328 percent of the company’s annual revenue last year of about 120 million won. The contract period runs for one year from Jan. 1, 2026, to Dec. 31, 2026.

Weverse Company operates the fandom platform Weverse and the commerce platform Weverse Shop, both of which connect HYBE artists with global fans. The company provides content, fan communities and merchandise to millions of users worldwide and has strengthened its position with a business model that combines global fandom and commerce. The latest contract was signed amid rising demand for UI and user experience improvements as platforms respond to rapidly changing fandom-centered content consumption trends.

Weverse has about 11.6 million monthly active users. Industry sources expect the platform to achieve profitability this year. Digital businesses including memberships, direct messaging and advertising are growing by more than 30 percent on average each quarter, and profitability across the platform is expected to improve further as BTS-related content increases and the share of digital revenue expands next year.

The SI division at Syntekabio, which signed the Weverse contract, has been generating revenue since the second quarter. After posting initial sales of 70 million won in the second quarter, the division added another 25 million won in the third quarter, accounting for 6 percent of total revenue. Backed by the steady progress of the SI division, Syntekabio‘s overall performance has also improved. Annual revenue that previously stood at around 100 million to 200 million won reached a cumulative 1.7 billion won as of the third quarter this year.

The SI division was established earlier this year based on Syntekabio’s capabilities developed through its AI drug discovery language model-based virtual screening software as a service, known as LM-VS, or Language Model Virtual Screening. The company provides clients with services ranging from website development to branding and UI and user experience design. Demand for SI-related services is reportedly higher from non-biotech industries than from bio ventures, and the contract with Weverse is seen as a clear validation of the division‘s capabilities.

Meanwhile, Syntekabio is nearing the completion of a capital raise through a recent rights offering, with existing shareholders subscribing to 98.87 percent of the shares. The company is also delivering results from its data center-based drug development platform, while revenue is becoming more stable through continued business diversification.

source : https://pharm.edaily.co.kr/News/Read?newsId=03637526642399504&mediaCodeNo=257