BioLeaders Selected as a BIG3 Sector Company Supported by the Ministry of SMEs and Startups

[Asia Economy Reporter Hyunseok Yoo] BioLeaders announced on the 11th that it has been selected as a supported company for innovative growth in the 'BIG3' sectors by the Ministry of SMEs and Startups.

This project is a follow-up to the 'BIG3 SME and Venture Company Innovation Growth Support Strategy,' which designates the biohealth, system semiconductor, and future automobile sectors as core future growth industries. The government selects companies with growth potential in these fields and provides focused support including funding and consulting from technology development to commercialization.

Selected companies can receive up to 13 billion KRW in support, including policy funds and loans such as technology guarantees. In particular, biohealth companies are also provided with support for clinical trials, promotion of new drug development using artificial intelligence (AI) and information technology (IT), and joint technology development with domestic and international companies.

The company explained, “We received high evaluations for our proprietary new drug platforms MucoMAX® and Huma MAX® technologies, as well as for our pipelines currently undergoing clinical trials and research attempting to expand additional indications.”

The cervical precancer treatment (BLS-M07) is currently in Phase 2b clinical trials at 17 university hospitals nationwide, and the treatment for the rare genetic disease Duchenne muscular dystrophy (BLS-M22) is in Phase 1 clinical trials at Samsung Seoul Hospital. Both clinical trials completed the last subject's experiment last month, and the final clinical results are expected to be announced in the third quarter. Notably, the rare disease drug BLS-M22 has been designated as a rare drug in the development stage by the Korean Ministry of Food and Drug Safety and as an Orphan Drug Designation (ODD) by the U.S. Food and Drug Administration (FDA). Research to expand indications is currently underway for sarcopenia, a common condition in the elderly with no existing treatment.

The Ministry of SMEs and Startups plans to organize an innovation mentor group composed of experts in each field to provide continuous support from project planning to performance management for the selected companies, ensuring systematic management.

A company official stated, “Following last month’s recognition as the fastest-growing bio company expected in the Asia-Pacific region, being selected as a BIG3 company confirms the reliability and development potential of our pipeline,” adding, “We will further enhance corporate and shareholder value through collaboration with affiliates such as NextBT and TCM Life Sciences.” He emphasized, “Through continuous research and development, we aim to become a global bio company and contribute to improving the quality of life for humanity.”

This content was produced with the assistance of AI translation services.