|
전문: ArtBlood "Weathered the investment storm" and now aims for KRW70 trillion artificial blood market < The interview < ENGLISH NEWS < 기사본문 - 더바이오 (thebionews.net)
- [Interview] Baek Eun Jung, CEO of ArtBlood
- Attracted over KRW 6.5 billion+α’ in Series A investment in second year of establishment
- "Owns technology for red blood cell progenitor cell proliferation enabling mass production"
- Targeting phase 1 clinical trials submission to U.S. FDA for artificial blood products by 2027
Graphics: THE BIO
[by Ji, Yong Jun] ArtBlood, an artificial blood developer, is garnering attention by successfully attracting large-scale investment despite the challenging climate for Korean unlisted bio ventures. With a recent financing round of KRW 6.5 billion (approximately USD 4.7 million) completed last month, the company aims to finalize Series A funding by the end of May, signaling its growing traction in the industry.
ArtBlood was selected as the exclusive beneficiary of the Ministry of Health and Welfare's 'Cell-Based Artificial Blood Development Project' last year and has solidified its position as a key player in the artificial blood sector. Venture capitalists (VCs) have recognized the company’s technological prowess in this area, leading to substantial investment.
The company has embarked on sample development with the goal of entering phase 1 clinical trials for artificial blood in the United States by late 2027. Moreover, ArtBlood has outlined plans to address the global blood shortage by upgrading mass production technology. Recently, interviewed Baek Eun Jung, CEO and founder of ArtBlood, delving into the company's journey in securing investment and its future plans.
◇"Targeting a projected KRW 70 trillion by 2030: Advancing the development of a versatile red blood cell product for transfusion"
CEO Baek Eun Jung, whom THE BIO met at ArtBlood's headquarters in Yangjae-dong, Gangnam District, Seoul on May 3, remarked, "It is unusual for a company to possess original technology for artificial blood development. Securing substantial investment serves as evidence of the significant interest venture capitalists have in ArtBlood's technology."
ArtBlood, a biotech venture developing artificial blood products, was established by Baek in January 2022. Currently a professor in the Department of Laboratory Medicine at Hanyang University Hospital, Baek brings over 17 years of expertise in the study of in vitro cultured blood. With approximately 40 SCI papers related to artificial blood and around 30 related patents worldwide, her contributions are substantial.
Blood products encompass medications produced and handled through various separation methods and additional procedures using human blood acquired through blood donation as the primary material. Blood obtained from donations undergoes processing and is divided into 'plasma' (54%), which includes fresh frozen plasma, plasma fractionation products, among others, 'red blood cells for transfusion' (45%), administered to patients with anemia and bleeding, and 'platelets' (1%), used for prevention and treatment purposes.
ArtBlood's focus lies in ‘red blood cell preparations for transfusion'. According to market research firm Verified Market Research, the global blood transfusion market is forecast to grow from about USD 37 billion (approximately KRW 47 trillion) in 2022 to over USD 54 billion (approximately KRW 70 trillion) by 2030. Within this, the red blood cell product market is estimated to constitute roughly 50% of the total transfusion market.
"Our company's development focus centers on a universally compatible, in vitro produced artificial red blood cell product," Baek said. "Our aim is to efficiently mass-produce RH-negative (-) type O red blood cell products, offering optimal transfusion versatility."
(...)
◇"Aiming for entry into U.S. clinical trials for red blood cell transfusion products by the second half of 2027: Initiating process development."
ArtBlood has embarked on advancing cell lines and refining processes with the goal of conducting clinical trials for red blood cell transfusion products in the United States by the second half of 2027. Baek outlined, "By the end of 2026, we anticipate finalizing process development work to enable mass production of red blood cells suitable for clinical trials. Subsequently, upon securing non-clinical data, we intend to submit an Investigational New Drug (IND) clinical trial plan to the U.S. Food and Drug Administration (FDA) in 2027."
"We plan to proceed with construction work for in-house production of red blood cell products in Korea, thereby initiating mass production. While undoubtedly challenging, we are steadfast in our commitment to artificial blood development," she further elaborated.
Ji, Yong Jun (jyj@thebionews.net)
Source : THE BIO (https://thebionews.net/)
|