Bigbang Angels Portfolio Company GMeX Selected for TIPS Program by Ministry of SMEs and Startups

GMeX, a bio-healthcare startup in the portfolio of cross-border accelerator Bigbang Angels, announced on April 1 that it has been selected as a final participant in the TIPS (Tech Incubator Program for Startup) technology startup support program run by the Ministry of SMEs and Startups.

With its TIPS selection, GMeX has secured 700 million won in research and development (R&D) funding, which it plans to use as a driving force for technological advancement and business expansion. The company aims to secure momentum for global anticancer drug development, diversify its revenue structure by successfully launching its own cosmetic brand in the market, and accelerate technology transfer and international partnership building with global pharmaceutical companies.

GMeX has established pipelines for acute myeloid leukemia and glioblastoma therapeutics and has completed applications for two related patents. Its research team is preparing to enter preclinical and Phase 1 clinical trials through the development of next-generation targeted therapies and combination treatment research. The company is also focusing on maximizing in vivo efficiency and minimizing side effects by improving its proprietary drug delivery system.

GMeX is also achieving results in commercialization. The company's "Medi-J Calming Cream" recently demonstrated clinical efficacy for itch relief through skin barrier protection in human application tests and received functional cosmetics product approval from the Ministry of Food and Drug Safety. The product is slated for launch within the year.

To commercialize its proprietary ingredient "GX200" as a cosmetic material, the company is pursuing registration review with the International Cosmetic Ingredient Dictionary (ICID) of the U.S. Personal Care Products Council (PCPC), in accordance with relevant regulations, as well as implementing a global export strategy. GMeX has established a virtuous cycle of converting its R&D achievements into sales, based on a stable financial structure from cosmetics sales. This year, the company has identified entry into the Canadian market as its top priority, focusing on building local partnerships and distribution networks.

Seungjun Jung, CEO of GMeX, stated, "Based on the secured funding, we will accelerate innovative drug development and global market entry, aiming to become a global leader in the bio-healthcare sector."

Hyukchan Kwon, Vice President of Bigbang Angels, said, "We will fully leverage Bigbang Angels' cross-border support capabilities to ensure that GMeX's global pipeline leads to tangible results, providing our utmost support."

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