Genolution said Friday that its research to “develop automated platform to separate and extract exosomes for cancer diagnosis” as part of the Small and Medium Business Innovation R&D Project organized by the Ministry of SMEs and Startups and implemented by the Small and Medium Business Technology Information Promotion Agency.

The research aims to develop an integrated automated platform for separating and extracting extracellular vesicles (exosomes) from human derivatives for cancer diagnostic tests. Through the research, Genolution plans to develop technologies related to cancer diagnostic tests through exosome separation to secure competitiveness in the domestic and overseas cancer diagnostic markets.

The R&D project will run until December 2026 and has a total budget of 640 million won ($461,560).

According to research firm Market & Market, the global exosome diagnostics and therapeutics market is expected to grow from $59 million in 2024 to $2.34 billion in 2029, recording an annual average growth rate of 108.9 percent.

“Through this R&D project, we expect to develop an innovative and standardized exosome isolation automation platform and further improve the accuracy and efficiency of cancer diagnosis,” a Genolution official said. “With the support of the SMEs Technology Innovation Development Project, we will lay the foundation to enter the cancer diagnosis market quickly.”