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Paxgene Bio Selected for the ‘Global Strong SME 1000+ Project’ Organized by the Ministry of SMEs and Startups
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Summarized by durumis AI
- Paxgene Bio has been selected for the ‘Global Strong SME 1000+ Project’ organized by the Ministry of SMEs and Startups, and will receive various benefits, including export support and financial support.
- Paxgene Bio develops and sells products to diagnose a variety of infectious diseases such as respiratory viruses and tuberculosis, based on its world-first multiplex rapid molecular diagnosis core patent technology, ‘MPCR-ULFA’. The company has expanded its business globally to countries like India, Vietnam, and Bolivia.
- Through this project selection, Paxgene Bio aims to accelerate its entry into overseas markets and achieve a KOSDAQ listing within two years.
Paxgenbio (CEO Young-Seok Park) announced on the 3rd that it has been finally selected for the 2024 ‘Global Leading Small and Medium Enterprises 1000+ Project’ hosted by the Ministry of SMEs and Startups.
The project aims to foster export-leading companies by discovering export-oriented SMEs with high growth potential and supporting them in various areas such as marketing and finance. Selected companies will receive various benefits, including support programs for exports, policy-based finance, guarantees and insurance, preferential interest rates and foreign exchange conditions from commercial banks, R&D projects, and preferential treatment for local government support programs.
This ‘Global Leading Small and Medium Enterprises 1000+ Project’, which designates promising SMEs that are advancing into the global market based on their excellent technological capabilities and innovation, received a total of 2,080 applications, resulting in a 4.4:1 competition ratio. Paxgenbio was finally selected as a promising company.
Paxgenbio is a molecular diagnostics specialist that manufactures and exports in vitro diagnostic medical devices. It applies its self-developed ‘MPCR-ULFA’, the world’s first proprietary technology for multiplex rapid molecular diagnostics, to offer products that can diagnose respiratory viruses, tuberculosis, sexually transmitted infections, human papillomaviruses, etc., more accurately and effectively.
Based on its innovative technology and products, Paxgenbio has expanded into all continents, including India, Vietnam, Bolivia, Czech Republic, and Zimbabwe. In particular, it participated in the National Tuberculosis Elimination Program (NTEP) in India, conducting clinical trials with its Indian partner AB to achieve the goal of eliminating tuberculosis and promoting its products through the ‘MICROCON India’ exhibition.
Recently, it has newly exported all its products to Venezuela, and in Iran, it has partnered with FAM TAN AZMA to promote its products and technology through the ‘Quality Improvement in Clinical Laboratory Conference (QICL 2024)’ held in Tehran.
Young-chae Jeon, Managing Director of Overseas Marketing at Paxgenbio, said, “We expect to see our overseas market expansion gain even more momentum with our selection for the Global Leading Small and Medium Enterprises 1000+ Project.” He also expressed his ambition, saying, “We will do our best to expand overseas sales in order to list Paxgenbio on the KOSDAQ within the next two years.”
Paxgenbio Introduction
Based on its proprietary technology, ‘MPCR-ULFA platform technology’, for multiplex rapid molecular diagnostics, Paxgenbio develops and sells various products for infectious diseases (sexually transmitted infections, respiratory, tuberculosis, cervical cancer, etc.). Paxgenbio is leading a new paradigm in the next-generation in vitro diagnostics field by developing early cancer diagnosis technologies and building a next-generation multiplex molecular point-of-care diagnostic platform. Paxgenbio is not satisfied with simply providing medical services that block and prevent infectious diseases, but hopes to help solve human health problems with fast, accurate, and affordable services.
Website: http://paxgenbio.com/
Contact
Paxgenbio
Marketing Department
Young-chae Jeon, Managing Director
