Theragen Bio, a spin-off firm of Theragen Etex, officially launched on Monday after completing the split-up process, aiming to become a company that specializes in developing customized new drugs based on genome analytic technology.
Theragen Etex decided to spin off its genome division into a new unlisted company, Theragen Bio, at its general shareholders' meeting in March.
Theragen Bio has set its first challenge as researching customized anticancer treatments such as immunotherapy using neoantigens and vaccines for cancer treatment.
The treatment removes cancer cells by activating the immune system in vivo by administering a tumor-specific antigen to the patients.
The company also aims to develop new genome-based companion diagnostic biomarkers to raise the efficiency in cancer treatment, as well as support new drug development by pharmaceuticals here or abroad by making the most of artificial intelligence and big data.
All of these projects will be based on the genome analytics and detoxification technologies accumulated by Theragen Bio over the past decade, the company said. The ongoing next-generation sequencing research support, personal genome analysis, microbiome, and piling big data for healthcare will also be a part of the business, it added.
"With the independent restart, Theragen Bio will move beyond genetic analysis and move toward futuristic high value-added fields, which surpass the flows and speed of the global bio-industry," CEO Hwang Tae-soon said.
Theragen Bio plans to increase its corporate value and go public in a few years, Hwang added.
Theragen Etex will also expand investment in research and development of new drugs, focusing on synthetic drugs.
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