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The Korea Herald
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THE INVESTOR
March 29, 2024

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Reyon invests W10b in AAV gene therapy developer

  • PUBLISHED :October 25, 2018 - 15:36
  • UPDATED :October 25, 2018 - 15:36
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[THE INVESTOR] Reyon Pharmaceutical said on Oct. 25 it has decided to invest 10 billion won (US$8.78 million) in gene therapy developer NeuracleGenetics.

Following this, the drug maker will become the second-largest shareholder of the biotech company.

NeuracleGenetics is developing a platform for gene therapies to treat degenerative brain disease, chronic neuropathic pain and others by using adeno-associated virus, or AAV.

AAV is regarded to be a promising method for gene treatment as it produces the lowest immune response and is non-pathogenic.

NeuracleGenetics plans to initiate clinical trials for key indications of the treatment in 2021.

“With the funds secured through the deal, we will develop original technology relating AAV gene therapy and optimize drug candidates,” a NeuracleGenetics official said.

“The deal will enrich our gene therapy pipeline for our plant in Chungju. I expect the development of therapies for patients suffer from Alzheimer’s disease and Lou Gehrig’s disease which don’t have a cure,” Ryeon Pharmaceutical CEO Yoo Yong-hwan said.

By Park Han-na (hnpark@heraldcorp.com)

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