GemVax Technology, a subsidiary of GemVax & KAEL, said Monday that it has acquired a patent for its personalized-tissue engineered vein (P-TEV) technology.
The patent relates to a method on regenerating blood vessels through the patient's bone marrow or peripheral blood. The method can treat diseases such as chronic venous insufficiency, deep vein thrombosis, and foot ulcer.
The company obtained the technology after acquiring VeriGraft AB, a Swedish company formerly known as NovaHep AB, in 2015. VeriGraft AB specializes in regenerative medicine.
Currently, VeriGraft AB is preparing to conduct clinical trials in patients with chronic venous insufficiency. The company has also received a research grants worth 3 billion won ($2.76 million) from the EU’s “Horizon 2020,” a program that supports research for stem cell and regenerative medicine, and Sweden’s “Swelife” for innovation and excellence in June.
"The patent will reduce blood vessel pile-up in the arms and legs and improve biocompatibility for patients undergoing a coronary artery bypass surgery," said Song Hyung-gon, CEO of GemVax & KAEL. "The company expects that the method will ultimately improve the quality of life for patients."
The GemVax Group is dedicated to the research and development of patient-specific regenerative blood vessels based on tissue engineering technology through the VeriGraft AB, Song added.