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Kangstem Biotech strives to develop an innovative new drug for patients suffering from rare and incurable diseases.
A selection article on a national project
04
2024.09
Kangstem Biotech has been selected for the 2024 Material Component Development Project, hosted by the Ministry of Trade, Industry and Energy.
Kangstem Biotech has been selected for the 2024 Material Component Development Project, hosted by the Ministry of Trade, Industry and Energy. This project aims to provide technical and economic support for the development of materials and equipment essential for the global industrialization of 3D cell-based regenerative therapies, which are designated as national high-tech strategic technologies, and to enhance national competitiveness.
The national project focuses on developing media, cryopreservatives, and cryotransportation equipment systems for 3D cell-based regenerative therapies, such as organoids. With a total project cost of approximately KRW 22 billion, the initiative will run until the end of 2028.
Kangstem Biotech was selected as the lead R&D organization for this project and will receive approximately KRW 2.1 billion. The company will also oversee a total of 17 participating organizations. and Kangstem Biotech is set to play a crucial role by developing cryopreservatives applicable to various types of organoids, including hair follicles, pancreas, liver, brain, heart, and bone. The company will also conduct evaluation and verification of these products and technologies, as well as oversee the overall direction and commercialization strategy of the project as the lead institution.
Kangstem Biotech has been recognized for its leading role in the development of organoid therapeutics through years of R&D capabilities, and for its commercialization capabilities based on its experience in the development, production, and sales of media and thawers, which are essential for cell therapy development.
Seung-hee Lee, head of Kangstem Biotech's research institute and the project's overall manager, stated, “Through this project, we plan to overcome the limitations of existing cryopreservation technology, such as reduced 3D cell viability and side effects when applied to humans, by establishing a one-stop platform for the stable production, distribution, preservation, and long-distance transportation of organoids.”
She added, “In particular, we expect that this development will be immediately applicable in the R&D of 3D cell-based regenerative therapies, such as organoids, thereby accelerating the clinical entry and commercialization of our skin and pancreatic islet organoid therapies.”
Meanwhile, with the recent global surge in advanced 3D structures and high-functional cell therapies, the global organoid market is expected to grow at an annual rate of over 22%, reaching $3.4 billion by 2027. Similarly, the cryopreservative market is projected to reach $1 billion by 2030.