Nano Intelligence Biomedical Engineering Corp. (NIBEC) said Thursday that the company’s growth is stable despite continuous profit drop in the second quarter of this year.

According to the company, NIBEC registered 1.4 billion won ($1.24 million) in sales, while losing 1 billion won in operating profit and 1.2 billion won in net profit.

“Although it may seem as though the company’s performance has aggravated, the company is growing steadily given the contract for technology transfer with Straumann last year and research and development expenses,” a company official said. “We are currently discussing additional sales growth.”

Growth projects include the company’s registering patent for cancer stem cell targeting anti-cancer peptide earlier this year in the U.S., and completing pre-clinical trials for a peptide osteoporosis treatment in August.

Through various peptide-based technology development and patent registration, we are concentrating on developing new drugs and partnerships with global companies,” a company official said. “The company is making efforts to create a positive synergy with the sales growth of existing businesses.”