HYUNDAI BIOSCIENCE (Inc.)’s major shareholder CNpharm (Inc.) is a bio-venture company that specializes in research and development that carries out various clinical experiments and formulation development for the commercialization of the research accomplishments of Chair Professor Jin-ho Choi’s team. Last January 11, 2011, professor Jin-ho Choi of Seoul National University Department of Chemistry founded the bio-venture corporation Nanohybrid (Inc.), funded by SNU, to commercialize the patented technologies of new anti-cancer medicines, new material ingredients for cosmetics, and so on. In 2010, the company name was changed to the current CNPharm (Inc.).
Professor Jin-ho Choi’s patented technology uses LDH (layered double hydroxide) synthesizing technology to stabilize unstable medicines, active substances, and others. It is a high-tech bio fusion technology that has 40+ applied and registered patents; and its main technology, LDH, has been introduced with emphasis on Nature journal. Likewise, Us Materials Research Society (MRS) and C&EN, the journal of America’s Chemistry Society have introduced it as one of the world’s 8 most promising innovations of the year.
Since the company’s establishment, Prof. Jin-ho Choi’s patented technology has been receiving great attention from many local venture capital corporations and bio corporations. Daewoong Pharm., UTC venture capital, an affiliate of Daesang Group, Korea-US open technology investments, Sun venture partners, PROVIS venture capital, Cosmax and others rated CNPharm’s technology business value highly, and have participated by investing in the company.
The value of CNPharm’s technology is also recognized by the country and has been selected as the next-generation technology business by the Ministry of Trade, Industry and Energy (MOTIE) last 2005. Due to this, it has worked on the development of the delivery system MTX-LDH anti-cancer drugs. Last 2007, it was selected as the mid-and-long-term development business by the MOTIE, and it developed siRNA-LDH anti-cancer gene delivery system. During 2011, it conducted researches as the Ministry of Health and Welfare declared it as the new medicine/improved new medicine GLP business. Additionally, CNPharm’s technology is acknowledged locally and internationally as it conducted joint researches with local corporations such as Daewoong Pharm., Dong-A pharm., BCWorld Pharm., and with international pharmaceutical corporations like Sanofi Aventis .
Aside from Prof. Jin-ho Choi’s patents, CNPharm also owns patents regarding the development of anti-cancer treatments using Phosphazene, by the chair professor of Ewha Women’s University, Yeon-su Son. Furthermore, for the commercialization of the technology, it has invested more than 3 Billion KRW last 2002 to build the Biosysnthesis factory. The raw materials manufactured in the factory were used to produce and sell bio-products such as FM-24, RX-1, RX-II, Dr. Plus, etc.
CNPharm (Inc.) decided on the acquisition of Hyundai IBT (Inc.) last 2012 as it has decided to focus on its original work, research, and continue production and commercialization of technology through a separate subsidiary. HYUNDAI BIOSCIENCE receives the technology of CNPharm and proceeds with the commercialization and mass production, while CNPharm continues doing basic research and giving technological guidance.