CHINO HILLS, Calif., Sept. 26, 2023 (GLOBE NEWSWIRE) -- via IBN -- SOHM, Inc. (OTC PINK: SHMN), a pharmaceutical, nutraceutical and cosmeceutical company that manufactures and markets generic drugs covering numerous treatment categories, announces today that it has acquired:
ABBIE, a world-class gene-editing platform which can deliver genetic payloads using non-viral vectors.
With this acquisition, SOHM is well-positioned as a competitive player in the $5.3 billion gene-editing market in 2023. The gene-editing market is expected to grow to $10.8 billion by 2028 at a 15% CAGR. (Source: 2023, Marketsandmarkets.com.)
ABBIE uses targeted integration to insert larger DNA sequences (aka, genetic payload), including full genes, into a desired loci of the target cell’s genome. ABBIE will be able to edit genes of a large number of cell types at different stages of their life cycles, overcoming the limitations of current cell editing and cell engineering technologies.
ABBIE is currently undergoing further development to optimize expression and purification of its protein-based platform. Upon completion of development, ABBIE will become high-quality, off-the-shelf cell engineering kits. Gene-editing companies will use ABBIE kits to deliver a gene payload to a specific locus on their targeted cells.
Revenue generations can be obtained immediately through licensing and gene-editing kits slated to be released for commercialization in 3Q/4Q 2024. ABBIE is expected to reach in-human trial on or before 4Q 2025.
The global biotechnology kit market is estimated at $593 billion in 2022 and projected to grow at a 10.9% CAGR between 2023 and 2030. (Source: 2023, GrandViewResearch.com.)
ABBIE’s development is being led by David Aguilar PhD, SOHM’s COO. Dr. Aguilar has extensive experience in molecular and cellular biology, genome editing, and has been an entrepreneur in biotechnology since 2015.
“ABBIE is a platform tool that delivers genes of interest for clinical trials. Compared to other gene-editing technologies, ABBIE has achieved the same level of progress with much less R&D spending. Our strategic partnerships and capital management have enabled us to streamline development and expedite our commercialization,” says Dr. Aguilar.
ABBIE was acquired from CGA 369 for $10 million. The first payment of $6 million will be paid in 12 months from the effective date and will be a combination of $3 million cash and $3 million in restricted common stock. The remaining $4 million payment to CGA 369 will be triggered by ABBIE’s first $50 million of commercial sales.
ABBIE development will be presented at the following scientific conferences:
Apr 2024: American Association of Cancer Research, AACR 2024, in San Diego, California
May 2024: SynbioBeta 2024 in San Jose, California
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About CGA 369
CGA 369 is a cutting-edge bio tech company revolutionizing the way proteins are expressed, validated and engineered, paving the way for a future of endless possibilities.
CGA 369 caters to the emerging cell engineering space by specializing in protein expression, offering state-of-the-art technologies and innovative solutions to harness the full potential of proteins. The company is driven by a dedicated team of experts combining expertise in molecular biology, genetic engineering and bioinformatics to unlock the intricate mechanisms of protein synthesis, ensuring precise and optimized expression for a wide range of applications.
To learn more about CGA 369, visit www.cga369.com
About SOHM, Inc.
SOHM, Inc. is a growing generic pharmaceutical manufacturing and marketing company with a vision of “Globalè Prospèro” that aims to build continuous growth. SOHM manufacturing and marketing targets rapidly growing healthcare segments such as nutraceuticals, cosmeceuticals and other major therapeutic segments. SOHM is headquartered in North America with manufacturing alliances in India and strategic alliances with U.S. manufacturing facilities. Although SOHM’s generic pharmaceuticals are exported globally and were introduced to the USA in early 2013, SOHM continues its focus on distribution to emerging markets in Africa, Latin America and Southeast Asia.
To learn more about SOHM, Inc., visit www.SOHM.com.
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