PharmGen Science said it has signed a research and investment agreement with MediCloud, a company specializing in genomic analysis, to develop new drugs using human and microbiome genomic DNA NFT data analysis.
NFT (Non-fungible Token) is a technology that uses blockchain to assign unique recognition values to content and is used as a type of "digital ownership certificate," as it cannot be duplicated or forged, and ownership and transaction details are specified.
As the importance of biomarkers, including personal genomes, has emerged in the process of disease research and new drug development, research and data in this field are growing exponentially. Consequently, efficient use, safe management, and proper possession of individual unique biometric data are very important.
Accordingly, DNA NFT is gaining prominence because it is irreplaceable and can authenticate ownership and transaction details, PharmGen said.
The pharmaceutical industry has high expectations that by using the NFT-tagged DNA of individuals to discover new drug development targets and biomarkers and by screening the best clinical patients for clinical research, the probability of success in new drug development can be increased while reducing associated costs.
Additionally, the company believes that it can develop personalized treatments and is focusing its efforts on establishing a precision medical platform. This convention aims to analyze and “NFTize” human DNA and microbiome DNA derived from individuals and establish a DNA NFT platform.
PharmGen Science said it has made a leap forward this year as the leading digestive drug development company and expects microbiome DNA NFT technology to help develop new drugs for digestive diseases, including inflammatory bowel disease (IBD), a representative new drug development pipeline.
"The era of digital magnetization of individual's unique biometric information has arrived," a company official said. “We will build a platform that combines the concepts of genes, microbiomes, and NFTs to increase the possibility of new drug development and return profits to individuals."