AI based biotech company specializing in drug development with patented AI algorithm
Mitigate drug development risk by saving upto 8 years and 95% of the cost
First AI biotech in Korea to L/O drug candidate to a traditional pharmaceutical company
Proprietary database set of 100,000+ patients transcriptomic data, 400+ disease signature data, 19+ cohorts of rare disease data, 25,000+ drug signature data, 40 main types of cancer with 79 subtypes
16 pipelines and 5 will begin clinical trials within 12-month
Collaborating with 60+ big pharmas, research institutes, universities, and hospitals
Raised KRW16.5bn (USD14mn, 140% of targeted amount) in Series B funding this August
Oncocross is an Artificial Intelligence based biotech specializing in drug development.
Oncocross’ service is based on the two AI platform described below:
ONCO AI – is an AI platform to screen optimal indications for drug compound in preclinical or clinical stages and to find the most suitable combination drugs to develop Incrementally Modified Drug (IMD) or orphan drugs, using proprietary human transcriptomic data (RNA expression), disease data, and drug data. Using ONCO AI, we can accelerate drug development process in a shorter time at a lower cost.
ONCOfind AI – is an AI platform to screen and identify the most suitable biomarker for anti-cancer drug compound candidate using proprietary standardized human transcriptomic data of multiple races and various phenotype information of cancer. This platform can also identity the original anatomic site of primary cancer tumor for Carcinoma of Unknown Primary (CUP).
Official_company_name:HIMNANDA Corporation Website english version url:http://oncocross.com/web/index.php Founded Year:2015 Country of HQ:South Korea City of HQ:SeongNam Number of full time employees:18 Equity Capital Raised(Usd) so far:19.37 Mil Current Investor Lists:10
About company/product in details
Product video url:https://youtu.be/ic_MAGKaTCw Short description:"Developed a nutrious balanced salad under the concept of""a healthy meal salad"" and deliver to customers within an hour from production base. Currently, developing service algorithm of mathcing personalized food and nutrition information on the application through data analysis. Operating 5 directly managed stores around Seoul and capital area and 1 production base. 1st merchant store is opening in Magok on November 14th, 2019." 2018 revenue usd:USD 1mil Estimated 2019 revenue usd:USD 1.7mil Estimated revenue in 5 years usd:USD 8mil Risk management plan preparing for the worst scenario:"It is challenge to supply and demand vegetables steadily throughout the year, Himnanda has diversified vegetable-supplied channels for a long period of business. We have a strategy of expanding distriution of good food into contents, but the most difficulties of franchise is effective control of them. Current franchises have higher rate of failures due to high dependency of people, but HIMNANDA has strategy of managing franchise effectively by combining data based and IT."
Current Fundraising Info
Current stage of this fundraising round:Pre-A Fundraising goal of this round:USD 2mil Expected pre-valuation for this round(usd):USD 10mil Minimum investment:USD 0.1mil Amount of current commitment for this funding round (usd):USD 50,000
Target Buyer Info
Please write down 10 keywords in detail for your industries (ex, LivecastManagement, Broadcast Recording(VOD), Advertising Statistics):Autonomous Driving, Self-Driving, Advanced Driver Assistance System(ADAS), Automotive Radar, Imaging Radar, Intelligent Transportation System(ITS), Smart City, Dynamic Map, Surveillance, Security Please write down 5 type of target buyers groups (Restaurants and cafes, Independent stores, Manufactures (Packaged ingredients).):Autonomous Driving OEM, Autonomous Driving NTO(Non Traditional OEM), Autonomous Driving Hardware & Software Platform Company, Ride Sharing / AI / Map company, Surveillance and Security company Please write down 20 companies that you want to meet to sell your products in US:GM, Ford, Volvo, Tesla, Zoox, Google, Waymo, Apple, Baidu, NVIDIA, Intel, Samsung(Harman), Uber, Lyft, Argo AI, Here, etc. Please write down 20 companies that you want to meet to sell your products in Asia:BAIC, Brilliance, BYD, Byton, Changan, Chery, Honda, Infiniti, Lexus, Mazda etc.
We believe many drugs fail clinical trials because most of the diseases including cancers are caused by complex interactions between many genes. However, the majority of pharmaceutical companies focus on a single target using one or two drugs. Therefore, we think the focus on a single target is insufficient to treat diseases. Instead, Oncocross approaches with the focus on gene expression pattern.
JPI-289. Early this year, we L/I a lead compound JPI-289 from Jeil Pharma to screen additional indication. Jeil is developing JPI-289 as treatment for stroke and we screened to find that it can also be used to treat NASH as well. Currently we are validating in animal model and we expect to begin clinical trials in 2H of next year. Jeil Pharma was able to add one more pipeline while saving both time and huge amount of money. (Rev. will be milestone fees and L/O in the later stage)
In cancer, we recently completed service agreement with ST Pharm to screen to find optimal biomarker for their new anti-cancer drug candidate. They have adjusted clinical trial design based on our result and will start clinical trials in 2H of this year. ST Pharm was able to increase the success rate of clinical trials with minimum cost.
Incrementally Modified Drug (IMD)
In IMD, we screened from our drug database that OC-501+504 combo shows a good indication for sarcopenia. After validating with animal model internally, in June this year, we L/O to Korea Pharma. This records the first L/O deal not only Korea, but also in APAC region of any AI drug discovery/development company to a traditional pharmaceutical company. Korea Pharma will conduct clinical studies soon, and this was done without spending millions of dollars in many years. (Rev. is upfront fee, milestone fees, royalty fees)
In orphan disease, It is estimated that there are 7,000 rare diseases worldwide with more than 350 million patients affected and less than 6% of the diseases have approved treatments. Through ONCO AI, we can screen and repurpose existing drugs with known pharmacokinetics and pharmacodynamics to find the solution for rare disease with unmet medical needs. Using this approach, we have selected a good candidate drug for Amyotrophic lateral sclerosis (ALS) or also known as Lou Gehrig’s diseases. Currently, we are in process of licensing agreement activities and at the same time, we are planning a Phase II clinical trials early next year.
In rescue drug, we received 5 compounds that have failed in clinical trials from Boehringer Ingelheim, a German multinational pharma. Out of 5, we found 1 compound showing a reasonable indication and we are in the animal testing. We are discussing with BI at the same time on the next step forward.
Go-to-Market Strategy and Business Model
milestone fees: enter clinical studies, IND submission, FDA approval
royalty: when the drug is sold to market
Co-develop and share milestone fee
find the optimal biomarker for anti-cancer drug compound
L/O depends on the type of disease, clinical trial phase
orphan drug prices are very high
Sales and distribution model
business development team: 2 domestic, 2 US, 1 China
Customer pipeline list
Novo Nordisk, Boehringer Ingelheim, ST Pharm, Korea Pharma, Daewoong Pharmaceutical
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- Ph.D., Medical Science, KAIST - Medical Oncologist (Hematology), - Asan Hospital, Internal Medicine, Department of Oncology, -Visiting Scholar, Wellman Center for Photomedicine, Harvard Medical School, - Visiting Scholar, MIPS (Molecular Imaging Program at Stanford), School of Medicine, Stanford University"
- Ph.D. Pharmacology, Seoul National University - Professor, College or Pharmacy, Kyung Hee University