All Bio-HealthCare Funding Startup News in Korea (Korean Startup News)

Korean LNP Tech Firm SURGINEX Raises KRW 8.5 Billion, Expands Global Reach

2024-03-30 2 min read


Korean LNP Tech Firm SURGINEX Raises KRW 8.5 Billion, Expands Global Reach

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SURGINEX, a company based in Korea specializing in lipid nanoparticle (LNP) technology, has successfully raised an investment of KRW 8.5 billion. This funding round included a follow-up investment from existing investor, Laguna Investment, and welcomed new investors such as Kiwoom Investment, Partners Investment, Hana Ventures, POSCO CAPITAL, and LSK Investment. Since its inception in September 2020, SURGINEX has accumulated a total of KRW 12.5 billion in investments.

In a significant development in August 2023, SURGINEX expanded its LNP pipeline with the addition of Professor Hyukjin Lee from the College of Pharmacy at Ewha Womans University, the pioneer behind Korea’s first commercialized LNP, as its Chief Technology Officer (CTO) and co-representative.

Lipid nanoparticles are pivotal in the delivery of next-generation mRNA vaccines and therapeutics, offering extensive potential for the development of a variety of gene and cell therapies due to their broad scalability.

The LNP technology of SURGINEX is grounded on biodegradable ionizable lipid technology, which has demonstrated efficacy and safety in over two billion individuals through its use in vaccines by Pfizer and Moderna. Importantly, SURGINEX has advanced beyond the lipid nanoparticle technologies used in these vaccines by securing next-generation ionizable lipids. This places the company at the forefront with its fourth-generation targeted LNP technology, capable of precise organ targeting.

Hyukjin Lee, co-representative of SURGINEX, mentioned, “Our LNP technology’s superior delivery efficiency and safety profile positions it for widespread application across various medical fields. This round of funding will enable us to solidify our status as a preeminent LNP specialist within the global biotech market.”

CEO Sejun Kim remarked, “Through partnerships with various gene and cell therapy developers both domestically and internationally, we are vigorously advancing therapeutic developments utilizing our LNP technology. This round of investment will primarily focus on establishing a mass production process for our LNPs, paving the way for commercialization through global licensing initiatives. We were able to secure this investment successfully, thanks to the investors who placed their trust in our company’s vision and technology, even in a challenging investment climate for the biotech sector.”

[Korean bioHealth Startups News]

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