Hanwha Impact Invests in US Gene Therapy Startup... Entry into New Drug Business

DNA Insertion and Deletion Technology Company
US 'Tessera Therapeutics' Recruitment
360 Billion KRW Fundraising Investment Participation

[Asia Economy Reporter Moon Chaeseok] Hanwha Impact announced on the 31st that it has invested in Tessera Therapeutics, a company developing gene therapies through gene editing, insertion, and delivery technologies based on gene and protein analysis technologies.

Hanwha Impact participated as a major investor in Tessera Therapeutics' recent 'Series C' funding round, raising approximately $300 million (about 360 billion KRW). Tessera Therapeutics is a life sciences company founded in 2018 in Boston, USA, by Flagship Pioneering, a venture capital firm famous for its early investment in Moderna. The company is developing a next-generation gene editing technology platform called 'Gene Writing.'

Gene Writing aims to fundamentally treat various diseases by editing DNA through substitution, insertion, and deletion. It allows genes to be written and erased like a computer word processor. Gene Writing is an advanced technology that overcomes the limitations of existing technologies by utilizing Mobile Genetic Elements found in the natural genome structure. Gene Writing can design and experiment with numerous synthetic mobile genetic elements, making it more accurate and efficient compared to gene editing technologies using CRISPR Cas9.

Nuva Afeyan, founder and CEO of Tessera Therapeutics, said, "Tessera's Gene Writing platform aims to develop technology on a completely different level from existing genetic disease therapies," adding, "The funds raised this time will be used to realize the possibility of treating genetic diseases." Tessera plans to apply for Investigational New Drug (IND) approval for gene therapies to treat liver or lung diseases in North America and other regions by the end of 2024.

Last year, Hanwha Impact also invested in Inari Agriculture, an AgTech company utilizing gene editing technology. Inari is a company that uses artificial intelligence (AI) and gene editing technology to create seeds that reduce water and fertilizer use by 40%, thereby lowering carbon emissions while increasing production.

Hanwha Impact holds the vision of "creating a positive impact on humanity and the Earth through technological innovation and leading a sustainable future." It plans to actively invest in innovative companies and technologies like Tessera and Inari that exert a positive influence on humanity and society.

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