South Korea’s GC Medical Science (GC MS) announced on Thursday it has made an equity investment in Hemotune AG, a Swiss startup known for a revolutionary medical technology for blood purification that combines biomedicine and nanotechnology.
The two, however, agreed not to disclose their transaction details.
GC MS shares were trading 2.26 percent higher from the previous session at 11,300 won ($9.42) at 11:22 a.m. on Friday in Seoul trading.
Hemotune founded in 2017 holds patented technology for specific and direct removal of disease-causing substances from the blood stream of a patient by using magnetic nanoparticles. The technology targets a broad range of harmful compounds such as viruses, bacteria, and other toxins like cytokines.
Under their contract, GC MS will be responsible for marketing of Hemotune devices across Asia, while seeking cooperation in local production of the company’s magnetic nanoparticles and blood purifying devices later.
Hemotune is speeding up research of applying its blood purifying technology to treating COVID-19 based on funding from EIT Health, a network of best-in-class health innovators backed by the European Union. GC MS said the technology could be applied not only to infectious disease treatment but also to cancer, organ transplant, and immune disease.
Hemotune’s blood purifying technology is regarded as innovative technology in the treatment of pathogenic organisms, said GC MS chief executive Ahn Eun-eok, adding the technology will be leveraged to expand the company’s hemodialysis business.
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