NEXEL and Japan's CMIC have strategic meeting, "A quick step toward targeting overseas markets"
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Published DATE: Feb 17, 2023
NEXEL, a company specializing in human-induced pluripotent stem cell (hiPSC) organoids, announced on the 17th that it held a meeting with CMIC, a CRO (clinical trial consignment agency) in Japan, for future strategic alliances.
This meeting is aimed at expanding NEXEL's overseas business. NEXEL established a local corporation (NEXEL USA) to advance into the U.S. in November 2021, and then created a local joint venture Celogics with Curi Bio, a bio company, to develop consumer-specific hiPSC-derived somatic cells and CDMO (Conduct Mass Consignment Development) projects.
NEXEL is preparing to enter Japan in earnest following the U.S. CMIC is Japan's representative CRO with abundant experience in clinical trials. CMIC said it has confirmed NEXEL's hiPSC differentiation and mass production technology.
A CMIC official said, "We are very surprised that NEXEL achieves mass production of high-purity cells with a thorough and full-fledged system and, conducts a cardiac safety evaluation suitable for ISO certification."
CEO Han Choong-seong said, "We will try to bear fruit by preparing well for the oppration to cooperate with CMIC, which we have become connected with this time, to enter Japan"
In addition, NEXEL has been receiving inquiries about product sales, technology transfer, and business partnerships of cadiac safety evaluation services in China, India, and Canada since January.
This means that when submitting a Investigational New Drug (IND), the time is approaching to be recognized for toxicity assessment data of iPSC-derived cells in addition to animal testing, the company explained.
Meanwhile, NEXEL recently attracted KRW 15 billion in investment through pre-IPO. After completing the investment review of one or two additional companies, it is expected to attract investment of KRW 17~18 billion.