According to a fact-finding survey conducted by the Korea Biotechnology Association, the domestic bio-industry sales have grown at an average annual rate of 8.8% for the past 10 years, which is higher than other industries such as the manufacturing industry at 1.7% and pharmaceuticals at 5.6%. In particular, despite the overall industrial activity stagnant due to the COVID-19 pandemic that has swept the world since 2020, the bio industry has achieved high exports thanks to increased biopharmaceutical consignment production, increased biosimilar market share in the U.S. and Europe, and increased exports of COVID-19 diagnostic kits.

At the same time, many domestic bio companies are focusing on R&D to create global new drugs. As of 2019, domestic bio industry R&D expenditure was about 1.8 trillion won, and it is expected to exceed the 3 trillion won level by 2024.

Medigate News is conducting an interview with the CEO of a promising domestic bio company in the early stage to highlight the growing domestic bio industry and help researchers with outstanding technology to revitalize their startups. As we wrap up the year of 2021, 20 companies we met this year summarized what kind of technology and competitiveness they are moving toward the global market.

Rznomics: Development of RNA substitution enzyme platform technology with specificity and efficacy

RNA replacement enzyme (trans-splicing ribozyme) has the function of artificially combining separate RNAs by cutting itself off and linking it with the RNA next to it. It can remove bad RNA and replace it with good RNA. However, RNA itself, in nature, has low specificity and efficacy, so there is a limit to using this function as a therapeutic agent.

After conducting an optimization study, Professor Seong-wook Lee of Dankook University's Department of Biotechnology and Bioengineering developed a technology that captures both specificity and efficacy by allowing the gene RNA with therapeutic effect to be expressed only in diseased cells, and started Rznomics in 2017. There are several groups that research RNA replacement enzymes, but Rznomics is the first company to research and develop therapeutics in the form of a company.

This technology is unique in that there is no risk of normal cells by acting only where bad RNA is expressed. First, the company focuses on autosomal dominant genetic diseases in which the wrong gene is dominant. Currently, the company have pipelines that focuses on disease such as liver cancer, glioblastoma, Alzheimer's, and retinitis pigmentosa. In addition, the company plans to focus on finding indications that can prove the value of the technology. 

Following the 12 billion KRW Series A investment in 2019, it also followed with a bridge investment worth 10.5 billion KRW this year. In the first half of 2023, when two clinical trials are expected to be in progress, the company is expected to request technology evaluation and IPO will follow.