ArtBlood, a South Korean biotech company specializing in transfusion blood production, has successfully raised 10.5 billion won (~$7 million) in Series A funding. The investment round was led by Partners Investment.
Founded in 2022 by Dr. Eun Jung Baek, a globally acclaimed expert in in-vitro blood transfusion, ArtBlood has developed a proprietary technology to produce ‘BioBlood,’ a real red blood cell product that mimics the natural blood production process occurring in human bone marrow. This innovative technology delivers three key advantages over traditional donor blood:
- Universal compatibility Suitable for all blood types.
- Infection-Free: Eliminates risks associated with donated blood
- Enhanced in-vivo stability: Extends survival time in the human body
ArtBlood’s innovative technology positions it as a premium alternative to current transfusion solutions, addressing global blood shortages while redefining the boundaries of transfusion medicine. The company is currently working on the development of a master cell bank and production process which are crucial steps for the first human clinical applications.
Dr. Eun Jung Baek, CEO of ArtBlood, remarked, “BioBlood is not just a substitute but a true leap forward in transfusion technology. As in-vitro blood cells produced through an advanced cell-based process, BioBlood represents a paradigm shift in transfusion medicine. Our vision is to commercialize this technology and make profound contributions to human health worldwide.”
In addition, this achievement was further boosted when Artblood was awarded a KRW 4.7 billion national project by the Ministry of Health and Welfare to develop the large-scale manufacturing process of in vitro cell-based blood products.
Seung-ho Lee, Investment Officer at Partners Investment, shared his enthusiasm: “ArtBlood’s cell-based blood production technology stands at the forefront of global biotech innovation. Their unmatched expertise in research, production, and intellectual property made our decision to invest straightforward.”
With this recent funding, ArtBlood aims to scale up BioBlood production and accelerate its entry into the first human clinical trials, positioning itself as a pioneer in the emerging field of in-vitro cell-based blood products.
[About ArtBlood]
ArtBlood is a South Korean biotech startup founded in 2022 by Dr. Eun Jung Baek, a specialist in diagnostic hematology and transfusion medicine. Dr. Baek has published over 40 SCI-indexed papers on artificial blood and holds approximately 30 patents worldwide. In 2023, the company demonstrated its cutting-edge expertise by securing an exclusive contract to advance large-scale production processes for real red blood cells intended for clinical trials. The company is currently developing mass-production methods for its proprietary BioBlood product, with plans to enter the global market.
