Deargen was selected for the TIPS program, so it will receive a total of $600,000 in R & D expenses from the operator Medytox Venture Investment.
The TIPS (Tech Incubator Program for Startup) is an incubating program that selects startup teams with excellent technologies and provides them with funding from investment operators and the government. It is a privately led start-up support program organized by the Ministry of SMEs and Startups(MSS).
It is being reported that recently bio & medical companies from TIPS are not only attracting attention in the market but also are actively attracting investment of TIPS-selected biotech in practice. This starts to pay off within only six years after the introduction of the TIPS system in 2013, so it is outstanding not only in investment but also in the IPO market.
We were selected for the TIPS program in November 2018 through DearTRANS that is a self-developed genomic data analysis platform. Our operator is the Medytox Venture Investment that is a venture capital that specializes in bio and We will receive a total of $ 600,000 for the R & D expenses.
DearTRANS is a web-based cloud platform service that collects and processes public genomic data. This makes it easy for bio researchers to analyze the genomic data. DearTRANS quickly compares and analyzes various types of genomic big data and suggests candidates with high potential as biomarkers. It is simple to use. DearTRANS quickly analyzes massive amounts of NGS data and displays them as a form of visual material by just typing the keywords of the target that you want.
We believe that being selected for the TIPS program this time will be a cornerstone to speed up business afterward and will develop for cross-analysis of data to be available by loading the meta-analysis engine on the DearTRANS platform. Furthermore, it plans to conduct experimental and clinical verification together with domestic and overseas biomedical research institutes to discover the biomarkers presented on the platform.