[MIK HOT SPOT_KHIDI] Genome & Company on its establishment, series C investment, and clinical trial in global stage
2020-05-07, Jane Lee Reporter
Genome & Company was listed in KONEX in just three years and attracted Series C investment in just five years of business. It has even signed contracts to cooperate in clinical trials and supply with a global pharmaceutical company, growing into one of the companies to receive the most attention among all biotech companies in Korea. Even in the faltering bio and pharmaceutical markets due to the COVID-19 pandemic, Genome & Company is keeping its position as the first place in the aggregate value of KONEX (275.8 billion won as of May 4).
In the beginning of the business, Genome & Company introduced the unfamiliar field of microbiome to the investors and had difficulties in attracting the investment. However, the market prospects for microbiome-based anticancer drugs and the R&D capabilities of Genome & Company were highly recognized by investors, and successfully attracted investments of Series A in 2016, Series B in 2018, and Series C in 2019.
Based on the successful investment attraction, Genome & Company signed a contract for cooperating in the clinical trial for the concomitant use of Bavencio (PD-L1 inhibitor) from Germany's Merck/Pfizer and microbiome treatment drug (GEN-001) from this company and the supply of it, and it was IND approved from US FDA in this April for conducting concomitant clinical trial. Not only that, in December last year, Genome & Company made an achievement of successfully signing the contract with LG Chem for the exclusive development and commercialization rights for GEN-001 in Korea and the East Asian region. Genome & Company is the first company in Korea to cooperate for concomitant clinical trial with Germany's Merck/Pfizer among microbiome R&D companies, and technology transfer to LG Chem is the first technology transfer of microbiome anticancer drugs in the world.
Such achievements have been made from the investment of the top-level human resources in business and clinical trial development for commercialization of research results, preparing the system that has capabilities in the areas of research/development/commercialization. Genome & Company hired specialists in clinical trial cooperation, global new drug development, and business development with multinational pharmaceutical companies like Hanmi Pharm and Celltrion, and they contributed greatly in achieving such successful business performances.
The products and services of the major companies of KHIDI Health Industry Startup Innovation Center in the MIK Hot Spot (Made in Korea Online Exhibition) will also be displayed in BIO KOREA 2020. Asia's biggest bio convention BIO KOREA 2020 co-organized by KHIDI and Chungbuk Province and sponsored by MOHW will be open online due to the COVID-29 pandemic on May 18-23. Virtual exhibition halls, conference, and business forums will be operated, and the companies will be promoting their competitiveness. Also, with video meetings, businesses between overseas speakers, buyers, and domestic and foreign participating companies will be made. To date, more than 160 companies have applied for the virtual exhibition booth at BIO KOREA 2020. Companies wishing to participate can apply through the web page or email by Apr. 30.
The global news network AVING News has begun holding the MIK Hot Spot (Made in Korea Online Exhibition) to help small and medium-sized companies enter the market and attract investment 365 days a year. AVING News has been running online exhibitions since 2005 and had 975 online exhibitions so far. Its YouTube online exhibition has placed itself as Korea's largest online exhibition hall that opens with 19,000 videos (booths) with more than 800,000 visits per month which means more than 10 million visits per year.
The MIK Hot Spot online exhibition is scheduled to be held regularly according to the field, target market, and participating institutions, and it will be presented as a new type of online business by transforming the know-hows and values of the participating companies according to the trend. Companies that want to participate can apply and apply through the marketing support projects from supporting institutions in the local governments. Refer to the institutions for more information.