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.
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