SEOUL, South Korea--(BUSINESS WIRE)--ReCerise Therapeutics Inc. (CEO Yong-Bae Kim), has announced its selection for a grant from the Ministry of Trade, Industry and Energy (MOTIE) of South Korea. The grant aims to support the development of tailored targeted therapies for refractory cancer or cancer subtypes. This funding will facilitate the discovery of new drug candidates, as well as their efficacy verification and validation.
The grant is part of the global joint R&D section of the Cutting-Edge Technology Development Initiative, under the 'Multi-Omics Based Tailored Diagnosis and Treatment Commercialization Technology Development Project'. A total of approximately 2.88 million USD will be invested in research and development until 2028.
The objective of the project is to identify and validate new drug candidates for undruggable targets in cancers or cancer subtypes that lack existing targeted therapies. Research efforts will encompass mechanism of action (MOA) studies, efficacy and safety verification, and database construction for new drug candidates targeting the identified molecules through multi-omics analysis. All research activities up to the preclinical stage will be conducted using patient-derived systems, alongside the development of companion diagnostics for patient selection.
Yong-Bae Kim, CEO and Principal Investigator of ReCerise Therapeutics, emphasized, "The need for new cancer treatment strategies to overcome resistance to current therapies has been consistently highlighted. This project selection will serve as a milestone for presenting the optimal treatment for specific refractory cancers. We will strive to implement strategies to maximize the efficacy and safety in clinical stages and ensure that they translate into competitive drugs in the global market."
About ReCerise Therapeutics Inc.
ReCerise Therapeutics, established in 2020, is a pioneering South Korean biotech company dedicated to advancing first-in-class treatments for liver cancer and liver-related diseases. Utilizing its novel technology, ReCerise is committed to developing breakthrough treatments to address unmet needs for patients with refractory cancers. The company has consistently demonstrated its research competence through successful execution of numerous government projects. Recently, it was selected for the 'Baby Unicorn 200 Nurturing Project' overseen by a Korean government organization, the Ministry of Small and Medium-sized Enterprises (SMEs) and Startups.
