Yoo Jong-man, CEO of Organoid Science, noted that the clinical research results for regenerative therapies based on intestinal organoids are expected to be released this year and added, "We will obtain approval for therapeutic purposes within this year based on this."
On the 6th, CEO Yoo held a press conference for the initial public offering (IPO) at the CCMM building in Yeouido, Seoul, and stated, "We project that treatment for inflammatory bowel disease patients using regenerative therapies based on intestinal organoids will soon be possible."
Organoids are developed by culturing stem cells to have structures and functions similar to human organs. They are commonly referred to as "mini organs." Organoid Science is a regenerative therapy development corporation founded by CEO Yoo while serving as a professor at Cha University Bundang Hospital.
Currently, organoids have been developed to represent most human organs, including the intestines, heart, and brain. They can be applied to organs that were previously impossible to regenerate with existing technologies, making them useful for regenerative therapies.
The inflammatory bowel diseases targeted by Organoid Science occur due to excessive inflammatory responses in the intestines, leading to damage that causes tissue to adhere or perforate. Although treatments that reduce inflammation are already available, there is currently no method to recover tissue damage.
CEO Yoo stated, "We possess Atom-C and Atom-S, which can regenerate the intestines and salivary glands based on the organoid-based regenerative therapy Atom (ATORM)." He added, "Atom-C is the first organoid regenerative therapy to receive approval for administration in South Korea and is currently being tested in a clinical trial involving two participants."
Atom-C is a regenerative therapy made by culturing the patient's intestinal cells into organoids and is administered to the damaged areas caused by inflammatory bowel disease. CEO Yoo explained, "Atom-C will be developed as a fundamental treatment for intestinal tissue damage," and stated, "We aim to receive treatment approval this year and commercialize it by 2027." Atom-S is a salivary gland organoid.
Organoid Science is also developing Atom-E, which regenerates uterine tissue, and Atom-L, which regenerates liver tissue, in addition to Atom-C and Atom-S. Besides regenerative therapies, they are also conducting a service business using the "Odyssey (ODESEI)" platform, which aids in new drug development and the development of new materials.
Odyssey is an organoid platform (technological base) that validates the efficacy and side effects of new drug candidates. Organoid Science expects that Odyssey will help replace animal testing and increase the success rate of clinical trials. CEO Yoo remarked, "Global new drug development requires investments of over trillions of won and takes more than 10 years, yet the success rate is low," adding, "Odyssey could enhance the efficiency of new drug development by replacing animal testing."
Organoid Science has been recognized by the Ministry of Trade, Industry and Energy as a company possessing 'national advanced strategic technologies' and can go public under 'super-gap technology special provisions.' Organoid Science is preparing to be the first company in South Korea to go public under these special provisions.
Organoid Science will conduct demand forecasting for its public offering from the 7th to the 13th for institutional investors. The public offering price is set to range from 17,000 won to 21,000 won per share, with a total anticipated amount of approximately 20.4 billion to 25.2 billion won.