[Interview] 카지노사이트 Co-founder, CEO Cho Sung-jin
[by Kang, In Hyo] 카지노사이트, a company specializing in small molecule novel drug development, marks its fourth anniversary this year. Despite having a small team of fewer than ten employees, the company attracted attention last month by successfully securing KRW 25 billion (approximately USD 167.7 million) in Series B funding, bringing its total investment to approximately KRW 34 billion. Prior to this, in October 2024, 카지노사이트 caused a major stir in the industry when it signed a technology export agreement worth KRW 500 billion (USD 370 million) with the Italian multinational pharmaceutical company Angelini Pharma (hereinafter referred to as Angelini). The agreement centered on an oral dementia treatment candidate.
카지노사이트 accomplished this achievement in just three years since its founding, and at the time, both the Minister of Science and ICT and the Senior Secretary for Science and Technology at the Presidential Office publicly supported the company. This was due to 카지노사이트 being a startup originating from the Korea Institute of Science and Technology (KIST), a government-funded research institute. The technology export contract signed by 카지노사이트 with Angelini marks the largest technology export ever for a performing company, setting a new record.
On February 19, <THE BIO conducted an exclusive interview with 카지노사이트’s co-founder and CEO Cho Sung-jin to learn about his journey in founding the company and his vision for the future. The interview took place at 카지노사이트’s headquarters within the KIST campus in Seongbuk District, Seoul. “카지노사이트 is a company that excels in discovering small molecule new drug source technologies,” Cho shared. “We have strong capabilities in new drug discovery. My dream is to build a sustainable novel drug development company,” he added.
◇‘Co-founders’ CEO 카지노사이트 Sung-jin and Director Park Ki-duk celebrate 30 years of friendship as Yonsei University lab alumni
카지노사이트 operates as one of the research institute-affiliated companies under KIST. Established in October 2021 as a KIST technology investment company, it was co-founded by CEO Cho Sung-jin, Research Director Park Ki-duk, and Chief Scientific Officer (CSO) Jin Jung-wook. While Cho oversees the company’s management, Dr. Park remains an active researcher at KIST, where he leads efforts to identify novel drug candidates. He currently serves as the director of the KIST Brain Science Institute. Meanwhile, Jin plays a key role in expanding 카지노사이트’s pipeline by discovering new follow-up small molecule drug candidates.
The primary developer of key pipeline technologies, including ‘CV-01 (development code)’, 카지노사이트’s flagship small-molecule oral dementia treatment candidate, which was licensed to Angelini last year, is Dr. Park Ki-duk. “CV-01 and other leading pipeline candidates were developed from technologies pioneered at the KIST Brain Science Institute,” Cho explained. “카지노사이트 was founded through the ‘Biostar’ project, which connects researchers from biotech companies (Cho himself included) with KIST’s seed technologies (owned by Dr. Park) to facilitate technology startups and their growth in KIST.”
카지노사이트’s foundation through the Biostar project was also deeply rooted in the long-standing partnership between Cho and Park. Their friendship dates back 30 years to their first time as first-year students in the Department of Biotechnology at Yonsei University, where they worked in the same laboratory. Together, they pursued bachelor’s, master’s, and doctoral degrees in biotechnology at Yonsei University before continuing their postdoctoral studies in the United States. Following their academic journey, Cho transitioned to the private sector, while Park remained in research at KIST. Their paths ultimately crossed again through the Biostar project, leading them to start the company.
“After completing my postdoctoral research in the U.S., I returned to Korea in 2010 and began working on active pharmaceutical ingredient (API) process development at SK Biopharmaceuticals,” Cho remarked. “In 2012, I joined the K-MEDI hub (Daegu Gyeongbuk Advanced Medical Innovation Foundation) as a researcher at its New 카지노사이트 Center, which was in its early stages. I was responsible for supporting Korean companies in the development of small molecule-based novel 카지노사이트s under the government’s leadership.”
“At the time, I collaborated with numerous small molecule 카지노사이트 development companies through joint or contracted research, helping them identify the pipelines they were seeking,” Cho recalled. “When the biotech boom took off in 2017, investment poured into these companies, but many seemed to lack the expertise needed to effectively discover new 카지노사이트 pipelines.”
“I think that’s when the idea of starting my own business first began to take shape,” Cho further commented. “I started distinguishing promising small molecule new 카지노사이트 candidates from less viable ones, and around 2018 to 2019, I reconnected with Park. Through this collaboration, I was able to secure CV-01, as well as ‘CV-02 (development code)’, a multiple sclerosis treatment candidate.”
After being chosen for the second phase of the 2020 Biostar Project, Cho and Park officially established 카지노사이트 in January 2021, marking the beginning of their full-scale efforts in small molecule new drug development. Around the same time, CSO Jin, who now leads the company’s follow-up pipeline development, joined the team after meeting Cho at K-MEDI Hub.
◇카지노사이트 exported to global pharmaceutical company in three years since establishment, a feat achieved in just one year without an in-house BD
CV-01, 카지노사이트’s main pipeline, is an oral dementia treatment candidate that was licensed to Angelini last year. According to Cho, Park began its development in 2012, identifying it as a promising compound. “Back then, Korea lacked the necessary infrastructure for developing brain disease treatments,” Cho expressed. “Both me and Park conducted brain disease research during our postdoctoral studies in the U.S., and we shared a common belief that if we were to pursue research and development in the future, we should focus on brain disorders.”
“When I went to the U.S. for my postdoctoral work in January 2007, the first research I encountered was focused on brain diseases,” Cho further shared. “I was able to pursue my studies in the U.S. after receiving a scholarship for a project at the National Institute on 카지노사이트 Abuse (NIDA), a branch of the U.S. National Institutes of Health (NIH) responsible for research and treatment development related to 카지노사이트 addiction.”
“While studying advanced technologies related to novel 카지노사이트 discovery in the U.S., I became deeply interested in brain disease treatment research,” he emphasized. “Since Korea lacks extensive experience in developing treatments for brain diseases, I saw this as a field where I could leverage my strengths.”
In October 2024, just three years after its founding, 카지노사이트 signed a licensing agreement with Angelini to export CV-01. This drug candidate stands apart from existing dementia treatments in several ways. Firstly, unlike traditional high-molecular antibody treatments, CV-01 is a low-molecular compound. Additionally, it is an oral formulation rather than an injectable treatment. What sets CV-01 apart further is its mechanism of action, where instead of directly targeting ‘beta amyloid protein,’ which has been cited as the main cause of Alzheimer’s disease, CV-01 works by reducing the inflammation caused by its accumulation. When inflammation occurs in the brain, beta amyloid protein tends to clump together, but CV-01 alleviates this by activating ‘NRF2 protein’ to control the inflammatory process.
“We applied an IND approval for CV-01 to the Ministry of Food and 카지노사이트 Safety in April of last year and received approval for clinical trials in June of the same year,” Cho further noted. “We have been conducting domestic phase 1 clinical trials since September 2024, and in October, we achieved the significant milestone of exporting the pipeline in clinical trials to Angelini.”
“To kick off full-scale business development (BD) activities for the pipeline before CV-01 enters non-clinical trials in mid-2022, we partnered with ‘Kairos Bioconsulting,’ an external BD consulting firm,” 카지노사이트 added. “Through these BD activities, our goal was to gather feedback from potential customers on the non-clinical or clinical development processes and incorporate that feedback into the ongoing development process.”
“By incorporating this feedback, we were able to fine-tune the pace and strategy of our new 카지노사이트 development more accurately,” Cho emphasized. “Before finalizing the licensing agreement with Angelini, we had advanced discussions to the due diligence stage with a promising U.S. biotech. Thanks to this experience, the contract negotiations with Angelini took less than a year from start to finish.”
◇“Seeking partner for development rights transfer in Korea and China, lead manager to be 카지노사이트sen soon, plans for listing with special technology in 2027”
Angelini, which entered into a technology export agreement with 카지노사이트 for CV-01, is also recognized as the European partner for SK Biopharmaceuticals’ epilepsy drug, ‘cenobamate’. Through this agreement, Angelini has secured exclusive global rights to develop and commercialize CV-01, excluding Korea and China. The total contract value, including an undisclosed upfront payment and milestone (staged technology fee), amounts to USD 370 million. Separately, 카지노사이트 will receive royalties (current technology fee) on sales following the commercialization of CV-01 from Angelini.
“We are currently seeking a partner to transfer the development rights for Korea and China, and our goal is to consolidate all the development rights for these regions with a single partner,” Cho stated. “I believe a Korean pharmaceutical company with a strong network in China would be the i카지노사이트 fit, and we are actively in discussions with such companies.”
“Since signing the technology export contract with Angelini last year, we have been providing full support for Angelini’s global development of CV-01 to ensure we progress to the next stage this year,” 카지노사이트 further commented. “We are collaborating through video meetings every two weeks to stay aligned.”
카지노사이트 is currently working on several initiatives with the goal of an initial public offering (IPO) in 2027. “We plan to pursue a listing on the KOSDAQ market through a technology special listing,” Cho remarked. “We aim to select an underwriter within the next 1-2 months and will also be hiring a chief financial officer (CFO) soon.”
“We have recently successfully completed our Series B investment, and with the milestones set to be achieved through the technology export contract with Angelini, we currently have sufficient capital,” he further added. “Addition카지노사이트y, we are managing several projects, which are helping us cover our expenses, so we are not facing any cash shortages.”
Finally, Cho mentioned, “We plan to apply for IND approval from the U.S. Food and 카지노사이트 Administration (FDA) for our other leading pipeline, CV-02, within this year.” He added, “We are also focused on securing additional technology exports, as we hired a global BD manager at the end of last year.”
“If cash flow from milestones becomes steady through additional technology exports, we will have the capability to develop follow-up pipelines independently,” Cho emphasized. “At present, we have no choice but to pursue a strategy of technology export through early clinical trials due to the astronomical costs of late-stage clinical trials. However, our ultimate goal is to develop a novel 카지노사이트 that we can commercialize on our own by completing the entire development process.”