BioSolvix Selected for TIPS by Ministry of SMEs and Startups... "Organoid Technology Recognized"

BioSolvix, a specialized company in animal alternative testing (CEO Choi Soo-young), announced on the 17th that it has been finally selected for the TIPS (Tech Incubator Program for Startup) program by the Ministry of SMEs and Startups with its organoid technology.

TIPS is a private investment-led technology startup support program that focuses on nurturing startup teams with technology capabilities leading the global market. With this selection, the company will receive 500 million KRW in research funding over the next two years.

To strengthen its technology, BioSolvix established a company-affiliated research institute of about 75 pyeong within the Chung-Ang University Startup Incubation Center in November last year. At this research institute, it is possible to produce various organoids of organs and cancer organoids using induced pluripotent stem cells, and conduct drug efficacy and toxicity tests using organoids, enabling animal alternative testing.

Choi Soo-young, CEO of BioSolvix, said, "We are pleased to be recognized by external professional institutions for our technology through this TIPS selection," and added, "We will accelerate research and development based on the TIPS support fund."

Meanwhile, the company is focusing on toxicity and efficacy tests using organoids of organs, efficacy tests using cancer organoids, and patient-customized drug screening.

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