First Case of National Strategic Technology Verification System Confirmed

'First Confirmation Notice of RNA Substitution Enzyme-Based Gene Therapy and Self-Amplifying RNA Platform'
Only 1 Eligible Notice Among 130 Applications
Benefits Upon Technology Special Listing

The Ministry of Science and ICT announced on the 29th that Algenomics Co., Ltd. (CEO Seongwook Lee), a gene therapy company, has been notified that its 'RNA transaminase-based gene therapy and self-circularizing RNA platform' under research and development corresponds to a national strategic technology. This is the first case since the introduction of the national strategic technology confirmation system.

[Image source=Yonhap News]

The Ministry of Science and ICT explained that the 'RNA transaminase-based gene therapy and self-circularizing RNA platform' is expected to develop into an innovative gene therapy technology capable of removing target RNA that causes intractable diseases and expressing RNA containing therapeutic substances.

The Ministry of Science and ICT introduced the 'national strategic technology confirmation system' in March, which verifies whether technologies owned, managed, or under research and development by technology fostering entities correspond to national strategic technologies. Since then, a total of 130 confirmation applications have been received through the policy support organization KISTEP, and only one technology successfully passed the rigorous review.

Five other technologies reviewed together (four owned/managed, one under research and development) were notified as 'on hold' pending further review. The Ministry of Science and ICT added that technologies on hold can be resubmitted with improvements during the next confirmation system announcement for re-evaluation. The '2nd national strategic technology confirmation application' is expected to take place in July.

Companies confirmed to possess national strategic technologies can apply for a technology-special listing with only one technology evaluation (A grade or higher), rather than multiple (each A grade & BBB grade or higher), if they meet the criteria of ▲a market capitalization of 100 billion KRW or more ▲and investment attraction of 10 billion KRW or more from venture finance in the last five years.

Kwon Seokmin, Director of the Science and Technology Policy Bureau, stated, “The government will strive to ensure that the cultivation of strategic technologies at the national level leads to strengthening private sector capabilities.”

This content was produced with the assistance of AI translation services.