Gflas, attracting 12 billion won by “building a plant-based biomedical platform”
입력 2019-08-26 11:42 수정 2019-08-26 11:42
by Jongwon Jang
G+Flas Life Sciences succeeded in attracting $12 million (12 billion KRW) worth of investments into Series C.
According to G+ Flas Life Sciences on Tuesday, Smilegate Investment, Alpen Route Asset Management, Chong Kun Dang Pharma and New Flight participated in this investment. G+Flas succeeded in attracting follow-up investment about a year after their $15 billion (15 billion KRW) investment in Series B in July of last year.
Founded by Seoul National University professor Choi Sung-hwa, G+Flas Life Sciences is a bio-venture company that focuses on research and development, including antibody drugs and immunotherapy drugs, based on the "CRISPR PLUS®" technology, which can cut targets more accurately than existing CRISPR gene editing scissors.
Through this investment, G+Flas Life Sciences plans to speed up the establishment of a plant-based bio-medicine development platform that combines its genetic correction technology, Crisper Plus technology, and non-GMO-type plant improvement technologies. The company explained that the double non-GMO crop improvement technology is a technology that develops crop formation by injecting sgRNA-protein complex (RNP) directly into plant cells without external DNA insertion, which is different from the existing GMO crop improvement method.
Leading pipeline of G+Flas Life Sciences is a plant-based Herceptin biobetter that plans to submit a clinical trial plan (IND) early next year and enter the phase 1 in domestic and abroad. G+ Flas Life Sciences is also setting to complete a plant-based bio-medicine research and development facility within medical innovation complex in Osong, North Chungcheong Province.
"We will do our best to realize our very dream of a disease-free world by successfully developing innovative medicines", said CEO Choi Sung-hwa.