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ToolGen Gets an Investment of 10 Bil. Won ... "Full Steam Ahead with DNA Scissors R&D" 유료

기사입력 : 2016-11-09 17:55|수정 : 2016-11-09 18:39
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바이오스펙테이터 Jang Jongwon 기자

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Company decides to issue new shares by way of third-party allotment

A Korean company that specializes in genome editing, ToolGen has attracted an investment of about 10 billion won. Following its acquisition of a Korean patent for CRISPR DNA scissors, the company has succeeded in getting the R&D fund for its early launch to the market.

On Oct. 13, the company announced that it decided to issue new shares by way of third-party allotment. The company will issue 391,499 new shares as common stocks, and the issue price of new shares is 25,600 won and total amount of money paid in will be 10,022,370,000 won.

The paid-in capital increase had investors such as Future Creation LB Forward Runner Investment Fund No. 20, KTBN No. 7 Venture Investment Coop, SEMA-Investment Bio Healthcare Investment Coop, and Timefolio Equity Fund.

CEO Kim Jong-moon said, "Major Korean investors have decided to invest in the company, because they trust the technology for CRISPR DNA scissors," and added, "We are going to spend the fund in our researches for taking advantage of DNA scissors."

Last month, ToolGen acquired the Korean patent for the source technology of CRISPR DNA scissors. With this, the uncertainty surrounding the patent was cleared as the biggest hurdle to the domestic research and commercial application of DNA scissors.

Looking ahead, ToolGen will tap into CRISPR DNA scissors in expanding its revenue model to cover plants, animals, and treatment agents in due course.

Working in the area of plants, the company will develop gene corrected carrot in partnership with Nongwoobio and beans with high content of oleic acid with Dong-a University. The company will also work in developing muscle-enhanced pig that has less fat and more protein and developing genetic treatment agents for rare diseases such as hemophilia and Charcot–Marie–Tooth disease.

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