Five promising domestic bio startups captured the attention of investment firm representatives with their technological expertise, pipeline (drug candidates), and product introductions.
Following an event held last month in Incheon, “BiiG WAVE”, a representative investment attraction platform in Incheon operated by the Incheon Metropolitan City and the Incheon Creation Economy Innovation Center, held a 2nd investment attraction business plan presentation (IR) event at COEX in Seoul on the 10th.
The IR events held in Incheon in July and Seoul in August featured the participation of 250 people, including 10 selected startups supported by BiiG WAVE, as well as representatives from venture capitals (VC), accelerators (AC), investment institutions, major corporations, and support organizations.
At the event, startups such as “VS Pharm Tech,” “Astrogen,” “INEXOPLAT,” “Baobab AiBIO,” and “ABLE Labs” presented their company’s technological expertise, pipeline, and products.
INEXOPLAT is currently developing a candidate for immune-oncology utilizing exosomes, called “IEP-01,” that can treat solid tumors. Kim Sung-hwan, the CEO of INEXOPLAT, said, “We are developing an immune-oncology drug based on exosomes that overcomes the disadvantages of existing immune activators. We are making progress in the development of treatments for solid tumors like pancreatic cancer and colorectal cancer.”
The company is working on an immune-oncology drug that enhances the activity of immune cells within solid tumors to enable them to attack cancer cells. Kim, the CEO, stated, “We are developing a platform for producing exosomes as pharmaceuticals. We have established our own production cell lines to produce exosomes of stable quality on a large scale,” and “We possess mass production process technology that can purify highly pure exosomes in compliance with guidelines for biopharmaceuticals.”
Currently, the company is preparing for Series A investment. After Series A funding, the company aims to obtain IND (Investigational New Drug) approval by 2025.
Source: Hitnews (http://www.hitnews.co.kr/news/articleView.html?idxno=47361)