CrystalGenomics Selected as One of the '1000 National Representatives of Innovative Companies'

[Asia Economy Reporter Oh Ju-yeon] CrystalGenomics announced on the 13th that it has been selected as one of the government's 'Innovative Companies National Representatives 1000.'

The Innovative Companies National Representatives 1000 is a program by the Financial Services Commission that selects national representative innovative companies leading innovative growth through collaboration with five government ministries (Ministry of Trade, Industry and Energy, Ministry of SMEs and Startups, Ministry of Science and ICT, Ministry of Health and Welfare, Ministry of Oceans and Fisheries).

The selected companies include innovative companies leading each industry across the entire innovative growth sectors such as advanced manufacturing and automation, chemistry and new materials, energy, and information and communication.

Companies were evenly selected according to growth stages such as early, mid, and late stages, with a focus on promising companies possessing high growth potential patents and core technologies.

CrystalGenomics is a bio company whose core foundational technology is based on technology that identifies the structure of target proteins and discovers new drug lead compounds and development candidate compounds based on this. Since 2006, through R&D investment of 33 billion KRW, it succeeded in developing the osteoarthritis treatment drug 'Aselex' in 2015. Aselex is the 22nd domestic new drug and the first new drug developed by a domestic bio venture company.

Currently, it is developing Ivaltinostat as a treatment for pancreatic cancer, and recently received the first fast-track designation for an anticancer drug from the Ministry of Food and Drug Safety. It is an epigenetic HDAC inhibitor drug that targets more HDACs compared to competing drugs with the same mechanism of action, and also has excellent selective inhibitory ability. In particular, it is differentiated by regulating the tumor microenvironment, which is considered a major cause of drug resistance, thereby improving immune response.

Going forward, since CrystalGenomics' innovation and technological capabilities have been verified, it will receive active financial support such as loans, guarantees, and investments (including expanded loan limits, interest rate reductions, and policy funds). In addition to financial support, it will also receive multifaceted support in non-financial areas such as management, financial management, and consulting.