Cellumed Selected for Government Excellent Corporate Research Institute Development Project

Cellumed announced on the 14th that it has been finally selected as the lead company for the ‘2023 Excellent Enterprise Research Institute Development Project (ATC+)’ implemented by the Ministry of Trade, Industry and Energy. As a result of being selected for this national project, Cellumed will receive government funding of 1.9 billion KRW for research expenses over the next four years.

The Excellent Enterprise Research Institute Development Project is a government initiative aimed at fostering sustainable growth of companies and nurturing them as key players in industrial innovation by providing R&D support to excellent enterprise research institutes with high technological capabilities. This year, the Ministry of Trade, Industry and Energy is investing 81.1 billion KRW in various projects.

With government support, Cellumed plans to develop a process that improves the production yield of Bone Morphogenetic Protein 2 (BMP2) by more than five times compared to the existing process and to promote the development of composite materials for bone grafts using BMP2.

BMP2 is a growth factor that accelerates bone regeneration when applied to damaged areas such as the spine and teeth. The global market size is estimated to be approximately 1 trillion KRW. Demand is steadily increasing due to the aging population and advancements in medical technology. Although bio companies want to enter the market, manufacturing technology is challenging, and only three companies worldwide have succeeded in commercial production.

Currently, BMP2 is produced using two technologies: animal cells called ‘CHO cells’ or Escherichia coli (E. coli). The CHO cell-based BMP2 production technology enables the production of highly effective products but has a high production cost. Cellumed adopted the animal cell method and became the second company worldwide and the first in Korea to commercialize BMP2.

Kim Young-sik, head of Cellumed’s research institute, said, "We expect to dramatically improve the production yield of BMP2 through this national project," adding, "If we successfully complete the government project, we anticipate leading the market by securing not only the quality of BMP2 but also price competitiveness."

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