Seoul-based startup ArtBlood, specializing in cell-based artificial blood production, has secured a 6.5 billion won investment. Partners Investment, Korea Development Bank, Korea Investment Accelerator, One & Partners Law Firm, and Heungkuk Securities participated in this investment round.
Since its establishment in 2022, ArtBlood has accumulated approximately 13.7 billion won in investments and government support. The company plans to conclude its Series A investment through additional funding in the first half of this year.
ArtBlood was founded by Professor Baek Eun Jung of Hanyang University’s School of Medicine, who is renowned both domestically and internationally in the field of extracorporeal blood. The company produces BioBlood, equivalent to real blood cells and capable of functional expansion, by implementing the bone marrow’s blood production process outside the body.
Based on ArtBlood’s highly proliferative cell lines, BioBlood can be expanded for use in reagents and therapeutic purposes. ArtBlood has successfully developed cell lines capable of mass-producing erythrocyte precursor cells with normal chromosomes, a crucial component of clinically applicable blood.
With this investment, the company will embark on mass production of BioBlood.
In a press release dated April 9, Lee Seung-ho, an analyst at Partners Investment, remarked that ArtBlood’s cell-based blood development technology is of top-notch quality not only domestically but also globally. He emphasized that the decision to invest was also influenced by the company’s solid expertise in research, production, patents, and commercialization.
Baek Eun Jung, CEO of ArtBlood, stated, “BioBlood is a high-quality, versatile cell-based blood product that will contribute to human health and welfare through commercialization.”
