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Jeonbuk State signed investment agreements with two bio companies

According to Yonhap News,

Top-rated companies in the domestic bio industry are continuing to come to Jeonbuk State.

As Jeonbuk State has signed investment agreement and MOUs with bio companies continuously, it is attracting attention as 'fostering Jeonbuk-style bio industry' will gain momentum.

Jeonbuk State signed investment agreements worth KRW 16.9 billion with Organoid Sciences and Redgene at Provincial government office on February 1.

Organoid Sciences specializes in organoids through culturing or reengineering cells.

It has been focused on developing various new drugs since opening a large GMP facility in Gwangmyeong, Gyeonggi-do.

Meanwhile, Redgene, in which Dr. Kim Jin-soo of the gene editing company ToolGen participated, is developing red blood cells for blood transfusion using stem cell culture technology.

According to the agreements, the two companies will have offices and labs at Wonkwang University, and work with local research institutes and university hospitals on red bio (bio technology in the healthcare and medical fields) projects. Organoid Sciences is to invest KRW 10 billion, while Redgene is to invest KRW 6.9 billion.

When their research reach a certain extent, they plan to establish experiment and production facilities of 5,000-10,000 square meters next year.

With the agreements, Jeonbuk State expects the formation of 'bio triangle', connecting Jeonju (Next & Bio), Jeongeup (Biomaysin and HLB Pharma), and Iksan, raising the prospect of designation for bio-specialized industrial complex.

Source Text

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Source: Yonhap News (February 1, 2024)

** This article was translated from Korean.