Breaking News: Ipel Lands 6 Billion Won Contract for IPSC Clinical Trials
SEOUL, South Korea – In a groundbreaking development, Ipel, led by CEO Ji-Hyun Ji, has announced the signing of a significant 6 billion won contract for the clinical rating induction of induced Pluripotent Stem Cells (IPSCs). This strategic move, signed on July 7 and 8, marks a pivotal moment in Ipel’s diversification into the IPSC-based cell therapy market.
Stabilizing Main Sales and Expanding Horizons
This achievement comes on the heels of Ipel’s successful entry into the world’s first clinical trial for cartilage cell therapy using IPSCs in April. The company’s main sales business has remained stable, underscoring its growing influence in the biotech industry.
Partnerships and Contract Details
The contract was signed with three prominent organizations: Seoul Asan Hospital, Etique Stem, and Celloid. The upfront payment of 1 billion won signals the start of a robust collaboration. Additionally, Ipel has agreed to several consulting and manufacturing contracts valued at a total of 6.85 billion won.
- GMP use with Seoul Asan Hospital and regulatory science consulting: 600 million won, one-year contract
- Integrated regulatory scientific consulting with Ulsan University: 1.5 billion won, three-month contract
- TS cell bio and stem cell-derived exosomes consulting and manufacturing: 100 million won, three-month contract
Expert Insights and Future Prospects
Nam Yu-Jun, CTO of Ipel, emphasized the scientific and commercial value of the agreement, stating, “Clinical grade IPSCs meet the quality and regulatory requirements necessary for therapeutic drug development, proving their worth.” This deal positions Ipel as a key player in the global high-tech drug market.
CEO Ji-Hyun Ji of Ipel expressed that this contract is a significant milestone, demonstrating Ipel’s potential as an IPSC platform company. “We will continue to develop global high-tech drugs through our partnerships, reinforcing our position as a total solution provider in the IPSC-based ecosystem,” Ji-Hyun Ji added.
Looking Ahead
Ipel plans to expand its business models to include cell lines, GMP-based CDMOs, and regulatory scientific advice. The industry anticipates that Ipel will strengthen its influence in both domestic and overseas markets, offering comprehensive solutions for the entire IPSC ecosystem.
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