PRESS RELEASE

[Press release] BioPlus decides to invest 2.3 billion won in ProCell Therapeutics, Inc

By 2022년 July 14일August 26th, 2022No Comments

edaily | Reporter Kim Eung-tae

Published date : July 14th, 2022

[Reporter Kim Eung-tae of edaily] BioPlus (099430) announced on the 13th that it has decided to invest 2.34 billion won in ProCell Therapeutics, a company specializing in the development of recombinant proteins and drug delivery systems.

With this investment, BioPlus will acquire 520,000 new shares of ProCell and become the second-largest shareholder with a 7.3% stake. Based on this, BioPlus Group, including its subsidiary ‘UbiProtein’, decided to establish a strategic cooperative relationship with ProCell and promote joint research and development of next-generation botulinum toxin products. UbiProtein is a company specializing in protein medicine based on half-life extension technology. 

The three companies, including BioPlus, UbiProtein, and ProCell, plan to develop chronic disease treatments and beauty products based on a next-generation light-chain botulinum toxin applying protein recombination technology and drug delivery sysyem(MTD) technology. In particular, the goal is to introduce innovative products with improved efficacy and stability, with strong resistance by increasing the half-life compared to existing products. For therapeutic purposes, the target indications are chronic headaches and migraines, tic disorders, and the like.

The three companies cooperate in the entire process from the development of next-generation botulinum toxin raw materials and formulations to commercialization including preclinical and clinical research, licensing, technology transfer (L/O) and distribution·sale. Specifically, UbiProtein is responsible for the development of recombinant genes and strains of light chain botulinum toxin with increased half-life. ProCell is dedicated to the development of drug delivery peptide with peripheral neurocellular transfer (Targeting) function. BioPlus is in charge of preclinical and clinical research, production of clinical samples and products, and item licensing and sales. 

A BioPlus official said, “We will maximize synergy by combining UbiProtein’s protein drug half-life extension platform source technology and ProCell’s protein gene recombination technology applied peptide drug delivery system development capability, and BioPlus’s accumulated formulation development and mass production technology and sales power.” In addition, a Bioplus official said, “Through this, we will succeed in developing and commercializing innovative botulinum toxin products and establishing a new cash cow.”

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