QuegenBiotech said on Feb. 5 that it plans to set up a unit in the US to leverage growth potential of its beta-glucan products in the market.
Beta-glucans, which are sugars that are found in the cell walls of bacteria, fungi and yeasts, can be used for the treatment of diabetes and cancer.
The company seeks to launch beta glucan-based dermal fillers, oncology drugs and hangover pills in the US. “We identified the US as a potential market to pursue as we received positive responses while promoting beta-glucan and beta-glucan hydrogel at the JP Morgan Convention Bio Showcase,” a QuegenBiotech official said.
The development of a targeted immunotherapy that stimulates the immune system using mRNA-based vaccines and beta-glucan is under way, according to the firm.
In 2013, QuegenBiotech developed beta-glucan hydrogel, which helps with dermatological health without adding chemical cross linkers. It received patents protecting the technology in Korea, Japan, China and the US.
According to business consulting firm Grand View Research, the global beta-glucan market will reach US$727.2 million by 2025.
By Park Han-na (email@example.com