Daewoong Pharmaceutical is conducting stem cell research. The company announced on May 26 that it presented the results of its stem cell therapy research for the first time at the third Spring forum for future medicine held at Seoul National University Hospital Biomedical Research Institute on May 10.
The forum was jointly held by the Foundation of Future Innovation, Seoul National University Hospital Bio Therapy Unit and the Innovative Research Institute for Cell Therapy, to discuss the current status of innovative advanced biopharmaceutical development.
At the event, Yu Jong-sang, head of the Daewoong Pharmaceutical Bio Center, presented the results of the company's research on stem cell "DW-MSC" to a number of research managers of leading biotechnology companies and professors from major universities.
According to Daewoong, DW-MSC has potential for commercialization and expansion of stem cell lines through mass production.
Work on DW-MSC is currently carried out in two directions. One is to develop a platform for development of therapeutic drugs for rare diseases and degenerative diseases, and the other focuses on developing a gene delivery platform for strengthened effect of stem cell functions.
The drug development is in the pre-clinical stage, where researchers have acquired mesenchymal stem cells from ESC and iPSC called pluripotent stem cells and secured stem cell culture technology except for animal-derived components.
Yu said, "We will continue to develop smart stem cells with improved efficacy by strengthening the cultivation technology of stem cell therapy and introducing and priming gene in the field of cell & gene therapy, which is considered as a next-generation drug."
Meanwhile, Biotech Information Portal announced that the global stem cell market is expected to grow from US$62.8 billion in 2017 to US$394.4 billion in 2025.