– Signs investment agreement with Plumbline on August 1
– $10 million investment in Pangyo Techno Valley, building a research institute and a factory
– Expected to lead to the development of the horse industry and animal disease treatment skills

Plumbline, a business specializing in the DNA-based development of veterinary medications, is establishing a research institute in Pangyo Techno Valley, Gyeonggi-do. The business will engage in the development of horse vaccines in cooperation with the Gyeonggi Province and Hankyong National University.

At a session held at the Millennium Biltmore Hotel in Los Angeles at 4:00 PM on August 1 local time, Governor Nam Kyung-pil, Plumbline President & CEO Anthony K. Kim, and Director Jeon Gwang-ju of the Genomic Information Cente r of Hankyong National University signed the agreement for joint cooperation to that effect. Councilors Choe Ji-yong  and Jo Gwang-ju  of the Gyeonggi Provincial Assembly also attended the session.

Under the agreement, Plumbline will invest $10 million (10 billion won) to build a factory and a research institute in Pangyo Techno Valley, Gyeonggi-do.

Plumbline is using the patent of – and receives technological support from – Inovio Pharmaceutical Research Institute, which specializes in the development of DNA-based immunity therapy. Inovio holds 20% of Plumbline’s equity share. As the only national university in Gyeonggi-do, Hankyong National University excels in agriculture and food.

Under the agreement, Plumbline plans to engage in the development of DNA-based vaccine for horse diseases in Korea. DNA vaccine is vaccine made through the artificial reproduction of genes of pathogens or viruses, unlike the other existing vaccines made using weakened or dead microorganism. The injection of DNA vaccine into the muscle develops immunity against pathogens or viruses. It is called dream therapy without side effects.

Plumbline will also engage in bio research for the development of the horse vaccine industry in cooperation with the Gyeonggi Province and Hankyong National University. In particular, the Gyeonggi Province will provide the necessary administrative support, and Hankyong National University will take part through clinical experiments. Plumbline will provide samples and patented technology for the clinical experiments.

 “Many horses, both for competition and for ordinary riding, suffer from arthritis. There have been no proper medications developed. Success in the research project will open a new page in the horse medicine sector,” a Gyeonggi Provincial official said regarding the agreement.

According to Plumbline President & CEO Anthony K. Kim, they regard the DNA vaccine development project as a historic mission. “I sincerely wish that the investment will translate into success. I am excited about the prospect of export of DNA vaccines from Korea,” he said.

For his part, Director Jeon Gwang-ju of the Genomic Information Center  of Hankyong National University expressed happiness over working with those from Plumbline to engage in DNA vaccine-related clinical experiments. “We will do what we can to make Gyeonggi-do a forward base for the domestic bio industry,” he vowed. 

The Gyeonggi Province expects the investment to translate into the development of DNA-based anticancer therapy for pets like dogs and cats, in addition to the development of the horse industry in the country.

 “The investment agreement is the first attempt made on the infrastructure of the relevant laws and facilities related to the development of the horse industry, with Plumbline, Gyeonggi Province, and Hankyong National University working together for the commercialization of DNA vaccines. We will make all-out efforts to provide administrative support so that such will eventually pave the way for talented domestic people specializing in bio science to make forays into the world and for the relevant domestic businesses to export their goods to world markets,” Governor Nam Kyung-il said.