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SCM Life Science (hereinafter referred to as SCM Life Science, CEO Lee Byung-gun) signed a 4 billion won equity investment and stem cell treatment license contract with Handok (Chairman Kim Young-jin, President Cho Jung-yeol) on June 4 at Handok headquarters in Yeoksam-dong, Seoul. The investment attraction is part of open innovation, and Handok has secured exclusive authority for joint development and commercialization of "severe atopic dermatitis stem cell therapy" under development by SCM Life Science.

The "severe atopic stem cell therapy" confirmed that the treatment effect of severe atopy lasts from at least 6 months to up to 21 months in a clinical trial for domestic treatment purposes. SCM Life Science plans to start phase 1/2a clinical trials in Australia of "severe atopic stem cell therapy" within this year and conduct clinical trials in the United States afterwards. In addition, Handok plans to seek ways to cooperate with various stem cell treatments under development by SCM Life Science as well as stem cell treatments for severe atopic dermatitis.

Handok has been making innovative moves as part of open innovation in recent years. Earlier this year, he invested in Genexine and Resolute, a U.S. biopharmaceutical developer, to secure experience in developing biopharmaceuticals that Resolute has accumulated and set a bridgehead for entering the U.S. market. It also invested $5 million in TRIGR Theraputics, a bio-venture under development by transferring technology to the new dual antibody drug task, and signed a strategic partnership with ABL Bio for domestic clinical trials and commercialization of new dual antibody-based drugs.

In addition, Handok is currently the largest shareholder of 'Genexin', 'Long-acting growth hormone GX-H9' for children/adults, 'CMG Pharmaceutical' and 'Anti-cancer drug development project group', innovative targeted anti-cancer drug 'Pan-TRK inhibitor', 'NbPostech', a biochip company that invested in equity, 'Rapid Screening Test Kit' based on nanocon technology, and 'DENEX™', a medical device that treats resistant hypertension that cannot be controlled with drugs, with its subsidiary Handok Calos Medical developing, etc.

Handok Chairman Kim Young-jin said, "We are very happy to develop SCM life science and stem cell therapy with excellent source technology and expand the biopharmaceutical portfolio that Handok is focusing on," adding, "We will continue to focus on developing stem cell treatments for severe atopic dermatitis."

Lee Byung-gun, CEO of SCM Life Science, said, “We are very happy to have entered into a partnership for domestic commercialization with Handok, which is the most actively promoting open innovation in Korea and has excellent clinical capabilities. And We hope that this relationship will be of great help in entering the global market in the future, he said.

Founded in 2014, SCM Life Science is developing various stem cell treatments using its original technology, "“Subfractionation Culturing Method”." The "“Subfractionation Culturing Method”" is a technology that extracts high-purity stem cells without impurities when extracting stem cells. It is easy to develop customized treatments by finding biomarkers for specific diseases and creating specific stem cells suitable for them. SCM Life Science has secured related patents in Korea, the United States, Europe, Japan, and China, and is developing customized stem cell treatments for various immune diseases such as chronic GVHD, acute pancreatitis, and cirrhosis.

SCM Life Science recruited CEO Lee Byung-gun, who had various experiences in Green Cross Corp. and Chong Kun Dang Pharmaceutical Corp. last year, and is speeding up the development of stem cell treatments such as acquiring Genexine and U.S. bio company Argos Theraputics, and signing joint research cooperation with Utah University and Early Biotech. It also attracted 44.1 billion won in investment from domestic investment institutions and Malaysia's Duopharma Biotech Berhad in the second-half of 2018, and plans to be listed on the KOSDAQ market by the end of this year.