LAPAS Receives Prime Minister's Award for Venture Startup Promotion... "Contribution to Mass Production of Microneedles"

[Asia Economy Reporter Hyunseok Yoo] Lapas, a pharmaceutical company specializing in microneedle patches, announced on the 16th that it received the Prime Minister's Commendation in the venture company category of the venture activation field at the ‘2021 Venture Startup Promotion Merit Awards’ hosted by the Ministry of SMEs and Startups (MSS).

The Venture Startup Promotion Merit Awards is an annual event held to discover and encourage outstanding venture companies and contributors. This year's ceremony took place at the Orc? Hall in L Tower, Yangjae-dong, Seocho-gu.

Lapas contributed to the advancement of the world's first mass production technology for microneedles with its proprietary ‘DEN (Droplet Extension)’ technology. The company was recognized for its achievement in overcoming the limitations of existing drug delivery systems by applying DEN technology to vaccine and pharmaceutical manufacturing, thereby establishing a technological foundation that enables proper supply and utilization of medicines in underdeveloped countries lacking infrastructure.

Jung Dohyun, CEO of Lapas, said, “This award signifies the external and internal recognition of the excellence of Lapas’ DEN technology,” adding, “Based on DEN technology, we are currently advancing a microneedle vaccine and pharmaceutical factory equipped with fully automated processes meeting GMP standards and incorporating artificial intelligence systems to grow into the world’s leading microneedle company.”

Currently, Lapas is accelerating the development of DNA (deoxyribonucleic acid), mRNA (messenger ribonucleic acid), and bacteria-based vaccine patches using DEN technology.

Lapas is participating in the joint development of a COVID-19 DNA vaccine based on microneedle patches with domestic venture companies. This project was recently selected as a supported project by the ‘Global Health Technology Research Fund RIGH FUND,’ jointly funded by the Bill Gates Foundation, SK Bioscience, Green Cross, and other leading domestic life science companies. Lapas is responsible for the microneedle segment in this project led by domestic venture companies.

Additionally, Lapas is conducting joint research and development of mRNA vaccine patches with domestic researchers and multinational pharmaceutical companies and plans to verify efficacy through animal testing soon. The company is also developing a hepatitis B vaccine patch in collaboration with the Indian vaccine company Serum Institute (Serum), aiming to enter clinical trials in the near future.

Furthermore, Lapas plans to build a microneedle mass production system using DEN technology by constructing a domestic factory. The company is currently scouting for factory sites. In August, it completed fundraising of approximately 30 billion KRW through convertible bond issuance, of which about 22 billion KRW will be used for the establishment of the new factory.