ReCerise Therapeutics Inc. Selected for Government Project by MOTIE
July 01 2024 - 1:01AM
Business Wire
Initiates Development of Tailored Innovative
Targeted Therapy for Refractory Cancer
ReCerise Therapeutics Inc. (CEO Yong-Bae Kim), has announced its
selection for a grant from the Ministry of Trade, Industry and
Energy (MOTIE) of South Korea. The grant aims to support the
development of tailored targeted therapies for refractory cancer or
cancer subtypes. This funding will facilitate the discovery of new
drug candidates, as well as their efficacy verification and
validation.
The grant is part of the global joint R&D section of the
Cutting-Edge Technology Development Initiative, under the
'Multi-Omics Based Tailored Diagnosis and Treatment
Commercialization Technology Development Project'. A total of
approximately 2.88 million USD will be invested in research and
development until 2028.
The objective of the project is to identify and validate new
drug candidates for undruggable targets in cancers or cancer
subtypes that lack existing targeted therapies. Research efforts
will encompass mechanism of action (MOA) studies, efficacy and
safety verification, and database construction for new drug
candidates targeting the identified molecules through multi-omics
analysis. All research activities up to the preclinical stage will
be conducted using patient-derived systems, alongside the
development of companion diagnostics for patient selection.
Yong-Bae Kim, CEO and Principal Investigator of ReCerise
Therapeutics, emphasized, "The need for new cancer treatment
strategies to overcome resistance to current therapies has been
consistently highlighted. This project selection will serve as a
milestone for presenting the optimal treatment for specific
refractory cancers. We will strive to implement strategies to
maximize the efficacy and safety in clinical stages and ensure that
they translate into competitive drugs in the global market."
About ReCerise Therapeutics Inc.
ReCerise Therapeutics, established in 2020, is a pioneering
South Korean biotech company dedicated to advancing first-in-class
treatments for liver cancer and liver-related diseases. Utilizing
its novel technology, ReCerise is committed to developing
breakthrough treatments to address unmet needs for patients with
refractory cancers. The company has consistently demonstrated its
research competence through successful execution of numerous
government projects. Recently, it was selected for the 'Baby
Unicorn 200 Nurturing Project' overseen by a Korean government
organization, the Ministry of Small and Medium-sized Enterprises
(SMEs) and Startups.
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ReCerise Therapeutics Inc. Jiwoo Heo +82-70-4640-0064
contact@recerise.com