- Bredis Healthcare secures KRW 1.7 billion grant for advancing Alzheimer’s disease diagnosis from South Korean government’s Deep Tech TIPS program
- Novel platform has demonstrated detection of Alzheimer’s biomarkers with sensitivity 10,000 times greater than current diagnostics
- Funds from the Deep Tech TIPS grant will accelerate the development and commercialization of the company’s early Alzheimer’s diagnostics platform
SEOUL, Republic of Korea, Aug. 22, 2023 (GLOBE NEWSWIRE) -- Bredis Healthcare, Inc. (“Bredis Healthcare”), a pioneering company in the field of neurodegenerative disease diagnostics, announced that they have been selected by South Korea’s Ministry of SMEs and Startups (the “Ministry”) to receive its Deep Tech TIPS grant. This prestigious recognition by the Ministry reflects Bredis Healthcare’s pivotal role in advancing early diagnosis of Alzheimer’s disease.
Through the Deep Tech TIPS program, the Ministry awarded Bredis Healthcare KRW 1.7 billion to be distributed over a three-year period, including KRW 1.5 billion earmarked for research and development and KRW 200 million to support commercialization. The KRW 1.5 billion of research and development funds empowers Bredis Healthcare to complete development of its diagnostic medical device. The company intends to use the KRW 200 million of commercialization funds to support operations, marketing, and global expansion.
Bredis Healthcare’s platform is built on the company’s proprietary, ultra-sensitive immunoassay technology. With a simple blood test, the company’s device can detect blood biomarkers specifically linked to Alzheimer’s disease. With demonstrated sensitivity 10,000 times greater than conventional diagnostics, the platform has the potential to provide accurate prognostic insights and allow early intervention for Alzheimer’s disease.
Henry Chung, CEO of KAIST Youth Entrepreneurship Investment Holdings (“KAIST”), a Deep Tech TIPS program operator, said, “Bredis Healthcare exemplifies the goals of the Deep Tech TIPS program. The company is making great strides in treating dementia in Korea, where the population is rapidly aging. We are impressed that Bredis Healthcare is already seeing commercial success in domestic and global markets despite the company’s early stage. In a short time, it has also assembled an extensive global network of collaborators at university hospitals and research institutes. We are pleased to support the company’s further growth and important work.”
Bredis Healthcare currently provides blood biomarker detection services and cognitive dysfunction risk research analysis to leading domestic and international hospitals and research institutions. Hyundoo Hwang, CEO of Bredis Healthcare, acknowledges the overwhelmingly positive response from institutional clients. He commented, “Our clients place a high value on the exceptional accuracy and reproducibility of our testing and the insights derived from our novel medical data analysis model.” Hwang further noted, “With this Deep Tech TIPS grant, we are positioned to secure regulatory approvals for our medical devices in time for commercial launch by 2025.”
Jaejung Son, Principal Researcher at Bredis Healthcare, highlighted the company’s groundbreaking digital immunoassay technology that is capable of detecting blood biomarkers at the femtogram level (fg/ml, fg=10^-15g). “Bredis Healthcare is pioneering the development of the world's first in vitro diagnostic medical device, capable of identifying key biomarkers such as P-tau, neurofilament light chain (NFL), and glial fibrillary acidic protein (GFAP) in a blood sample. This ultra-sensitive technology holds profound promise in the early detection of Alzheimer's disease by enabling the identification of biomarkers, even in low concentrations that are elusive using current blood-based diagnostic kits.”
About Super Gap Startup 1000+ Project and Deep Tech TIPS
South Korea’s Ministry of SMEs and Startups launched the Super Gap Startup 1000+ initiative in May 2023. Over the next five years, a total of KRW 2 trillion in public-private funding will be disbursed to 1,000 leading Korean deep-tech startups. These entities are selected by top-tier experts from prominent domestic and global investment, industrial, and academic institutions.
Deep Tech TIPS, or Accelerator Investment-Driven Tech Incubator Program for Startups, is designed to identify and foster the most promising startups with innovative ideas and pioneering technologies. The program equips them for global expansion by leveraging the mentorship, support, and research and development funds provided by successful venture founders turned angel investors. For additional information, visit https://www.kised.or.kr/menu.es?mid=a20204040000.
In June 2022, a consortium formed by KAIST and Checkmate Capital Group was selected as a TIPS program operator. This consortium was selected as a specialist program operator in the Emerging Technology Expert category.
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Bredis Healthcare Inc.
info@bredis.co.kr
