Biotech Startup Noul Releases 2021 Sustainability Report

Biotech Startup Noul Releases 2021 Sustainability Report
  • Disclose achievement and improvement on economic, social, and environmental commitments
  • Contain corporate will to take sustainability as its management philosophy since its foundation
  • Write based on the GRI standards and self-disclose to the DART electronic disclosure system

YONGIN, South Korea, July 8, 2022 /PRNewswire/ -- Noul Co., Ltd., (376930.KR), a KOSDAQ-listed biotech startup, has released its 2021 Sustainability Report, including corporate sustainability performances. Through the report, Noul reviews its economic, social, and environmental business activities, identifies the value and impact, and reports to the stakeholders every year. The report is the second publication after 2020.

Noul is a biotech startup that develops and manufactures next-generation diagnostic platforms. Its representative product, miLab™ Diagnostic Platform, is a diagnostic solution that provides on-site diagnosis. From sample preparation to imaging and AI analysis, miLab™ performs the microscopic diagnosis procedures which are known as the gold standard in blood diagnostics into a fully automated benchtop platform. Combined with embedded AI and patented NGSI cartridges, miLab™ provides an accurate analysis in 15 minutes using just 5μl of blood.

The 2021 Noul Sustainability Report was prepared in accordance with the GRI standards. Considering Noul's rapid product development and organizational growth, the report spent a lot of pages on introducing the company and its products. The report consisted of 1) introduction of the company and product, 2) sustainability implementation system and governance for sustainability, and 3) key achievements. It also comprehensively summarized both financial and non-financial performances to communicate transparently with stakeholders who participate in the company's growth. 

Noul chose nine reporting topics from the two perspectives of 'material issues' relevant to the stakeholders and 'growth milestones' the company needs to attain as a startup. For each of these issues, Noul presents its approach, activities and achievements, and future plans.

2021 Noul's Focus Areas and Key Achievements

  • IPO: Earning credibility in our technology, business feasibility and management capability through technology special listing
  • Market Entry: Kicking off meaningful sales in the domestic/international markets and expanding global business
  • R&D: Selected as a member of a large-scale cancer diagnostics research project and undertaking next-generation research in earnest 
  • Governance: Laying the groundwork to promote the expertise and diversity of the Board and establish sound governance
  • Quality Improvement: Establishing a quality system to manufacture safe and reliable products
  • Human and Labor Rights: Establishing systems and a corporate culture that respect human rights and embrace diversity
  • Capacity Building: Pursuing a self-reinforcing growth cycle between Noul and its members through capacity building and work engagement 
  • Environment and Climate Change: Initiating our activity to independently measure GHG emissions and pursue the green transition 
  • Health and Safety: Initiating systemic activities to bolster our company-wide health and safety capabilities

Meanwhile, Noul self-disclosed the report to the DART electronic disclosure system on July 8th for communicating with stakeholders including investors about the corporate sustainability progress and improvement.

David Lim, a CEO of Noul, said, "As specified in our Articles of Incorporation, our sustainability philosophy forms the foundation of our organizational management. Our overarching mid/long-term approach is to build sustainability across our entire business and organizational operation at the management system level, making steady and needed improvements each year. We transparently report our sustainability performances annually to stakeholders, including members, investors, customers, and partners who have participated in Noul's mission from our early startup days. Noul will continue to focus on internalizing sustainability, which is the basis for solid growth and outstanding performance."

The 2021 Noul Sustainability Report can be downloaded from the Noul website.

About Noul

Noul, a biotech startup that develops and manufactures next-generation diagnostic platforms, was established in December 2015 based on the mission of 'explore global challenges that threaten human health and life, discover novel potential solutions, and realize those possibilities'. At Noul, experts from various fields including bio, AI, S/W, mechanics, and manufacturing are gathered to solve important human health problems.

Noul's representative product, miLab™ Diagnostic Platform, is a decentralized diagnostic platform that provides on-site diagnosis. It is a solution that differentiates diagnostic convenience while maintaining the accuracy of microscopic diagnosis procedures which is known as the gold standard in blood diagnostics. From sample preparation to imaging and AI analysis, miLab™ performs the microscopic diagnosis procedures into a fully automated benchtop platform, and provides an accurate analysis in 15 minutes using just 5μl of blood.

Noul has strived to mature into a company grounded in the philosophy of sustainability since its foundation. Taking sustainability into its central philosophy of corporate management, Noul focuses on internalizing sustainability values in business practices, technology and product developments, and organizational operations. The sustainability of Noul is to comply with ethical and legal standards as a corporate citizen and to balance economic, social, and environmental values on the responsible relationships with stakeholders. 

Website www.noul.kr  

#ESG #ESG Report #Environmental Social Governance #Sustainability #Sustainability Report #Noul #miLab #Diagnosis #AI Diagnosis #Diagnostic Platform #Diagnostic Solution #Biotech #Startup


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Source: Noul Related Stocks: Korea:376930
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