Pharmicell announced on the 12th that CEO Kim Hyun-soo gave a presentation on "Artificial Blood in Emergency Situations" at the "55th Military Medicine and 2024 International Military Trauma Conference."
The Military Medicine Conference has been held annually since 1970 to share the latest trends in military medicine and to promote the activation and professionalism of military medicine. Blood is one of the essential resources that must be secured in preparation for mass casualties in wartime situations.
As a speaker, CEO Kim Hyun-soo introduced the artificial blood being developed by Pharmicell. The core of Pharmicell's artificial blood research is the use of PEG as a crosslinking agent between hemoglobin and albumin. Albumin and PEG have excellent biocompatibility, which is expected to reduce toxic reactions in the body. The molecular structure formed by the combination of PEG and albumin is anticipated to significantly reduce side effects compared to existing artificial blood structures. While cell-based artificial blood incurs ultra-high costs even if developed, Pharmicell explained that their artificial blood can be developed at a price comparable to that of regular blood.
CEO Kim Hyun-soo explained, "Artificial blood is easier to store and transport for long periods compared to conventional blood, and it can be used regardless of blood type, making it highly useful in emergency situations, which increases the need for its development." He added, "Additionally, Pharmicell's ability to produce mPEG independently is a strength that will enable stable development and manufacturing of artificial blood."
According to the global market research firm Data Bridge Market Research, the global artificial blood market size is projected to grow from $5.6 billion (approximately 7.6 trillion KRW) in 2021 to $24.08 billion (approximately 32.8 trillion KRW) by 2029, with an average annual growth rate of 20%.
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