CJ Healthcare, the pharmaceutical unit of CJ Group, said on March 7 that it has made investment in a Korean biotech startup developing treatments for dementia.
CJ Healthcare will invest 2 billion won (US$1.74 million) in Neuracle Science, which is working on Alzheimer’s treatment developing projects, as a part of its 15.2 billion won worth venture capital fund it set up with Timewise Investment, CJ Group’s investment affiliate.
This fund, run by Timewise Investment, was formed to create an industry ecosystem where pharmaceutical companies and startups can co-exist, and to establish pharmaceutical direct investment funds and promote open innovation,” CJ Healthcare said in a press release.
Neuracle Science is seeking to discover the lead antibody which inhibits a factor of reactive gliosis caused by nerve damage or degenerative brain diseases.
The company is currently working on the selection of potential cancer drug target candidates through preclinical animal studies and expects to start clinical trials by 2019.
So far, it has confirmed the involvement of gliosis in Alzheimer’s disease mice model over normal mice model and also confirmed considerable reducing of gliosis in Alzheimer’s disease mice model with injection of monoclonal lead antibody that specifically neutralizes the gliosis-inducing novel ligand.
Last year, the project by Neuracle Science was also backed by the Korea Drug Development Fund, a government-initiated drug development program by a consortium of health care related Korean ministries.
By Park Han-na (firstname.lastname@example.org)