Money Today
October 8th 2024.
At the inauguration ceremony for the Blood Cancer Multi-Omics Research Project Group, BioTNS' Co-CEOs LEE Seung-il and KIM Bong-seok, Professor KIM Dong-wook of Eulji University Hospital, and Professor KIM Hong-tae of UNIST are taking a commemorative photo (from left to right). / Photo courtesy of BioTNS
BioTNS, a precision liquid biopsy specialist led by CEOs KIM Bong-seok and LEE Seung-il, is launching a global blood cancer project using its proprietary digital PCR (polymerase chain reaction) platform, known as "LQ Suite."
This large-scale project, formally titled "Development and Commercialization of a Precision Blood Cancer Diagnosis Platform Based on Multi-Omics and Digital Integrated Analysis," involves 14 university hospitals domestically and internationally, as well as the Ulsan National Institute of Science and Technology (UNIST). Supported by Korea's Ministry of Trade, Industry, and Energy, it carries a budget of 20 billion KRW (approximately 17 million USD). Professor KIM Dong-wook from the Eulji University Hospital Hematology Department is the project lead, with Professor KIM Hong-tae from UNIST serving as the operations chair.
The project aims to commercialize digital PCR-based diagnostic equipment and develop over five types of blood cancer diagnostic kits. Another major goal is to establish a global blood cancer network. BioTNS plans to leverage existing and newly identified biomarkers to create ultra-precision diagnostic kits, which will then undergo clinical trials using samples provided by participating hospitals. Once regulatory approval is obtained, these hospitals will serve as initial customers, and BioTNS intends to expand into international markets as well.
BioTNS has already developed two blood cancer diagnostic kits, including one for chronic myeloid leukemia (CML), which entered the regulatory approval process with the Ministry of Food and Drug Safety in October. The company expects to begin supplying this kit to domestic hospitals in early 2025. Through this project, BioTNS anticipates substantial growth, driven by sales of the LQ Suite equipment, consumables, and diagnostic kits.
The "LQ Suite" platform, introduced in 2021, is a droplet-based digital PCR platform. BioTNS claims that it offers faster, more precise, and cost-effective diagnostics compared to traditional tissue biopsies, imaging diagnostics, and second-generation PCR technologies. According to the company, "LQ Suite" achieves an accuracy of 99.99%, making it one of the most precise diagnostic technologies available. They envision this technology as a “dream” solution for diagnosing cancer from just a single drop of blood.
CEO LEE Seung-il remarked, "We are committed to developing innovative cancer diagnostic products based on the LQ Suite digital PCR platform. Our goal is to lead the ultra-precision liquid biopsy market in the era of precision medicine."