New Paradigm Investment Makes Seed Investment in Vaccine Development Startup 'Baeksdaim'

After New Paradigm Investment made a seed investment in VAXDIGM, Bae Sangseung, Co-CEO of New Paradigm Investment, Kim Seongjae, CEO of VAXDIGM, Kim Seunghu, CTO of VAXDIGM, and Park Jehyeon, Co-CEO of New Paradigm Investment (from left in the photo) are posing for a commemorative photo.
[Photo by New Paradigm Investment]

[Asia Economy Reporter Kim Jong-hwa] New Paradigm Investment, the operator of TIPS, announced on the 10th that it has made a seed investment in the bio startup 'VAXDIGM,' which is developing vaccines.

Established in December last year, VAXDIGM is a startup possessing core technology to rapidly develop improved vaccines, including COVID-19 vaccines, and vaccines for new infectious diseases.

Jae-hyun Park, CEO of New Paradigm Investment, said, "VAXDIGM is expected to change the paradigm of vaccine development and lead a new era in the vaccine field," adding, "In the future, not only for COVID-19 but also when interspecies transmission of new viruses rapidly spreads due to climate change, we expect to secure vaccine sovereignty by developing and producing vaccines domestically to respond independently, and to create high added value through exports."

VAXDIGM is focusing on rapidly and inexpensively developing and producing synthetic antigen vaccines by utilizing core technology for rapid protein production using microorganisms instead of the moth cells used by Novavax. The company is prioritizing technology research and development (R&D) to continuously upgrade core technologies for rapid vaccine development capable of responding to multiple variants. To this end, VAXDIGM is conducting joint research with domestic research institutes and hospitals, as well as forming partnerships with companies.

Sung-jae Kim, CEO of VAXDIGM, said, "Through this investment, we will settle in the New Paradigm Base Camp, challenge TIPS, and rapidly grow into a baby unicorn," expressing confidence that "the core technology for antigen vaccine manufacturing can be applied not only to COVID-19 vaccines but also to currently used vaccines such as Japanese encephalitis vaccine, hepatitis A vaccine, and future pandemic vaccine development threatening humanity, showing rapid growth."