NeoCannBio

About NeoCannBio

NeoCannBio is a South Korean biotechnology company founded in 2021 that specializes in the research, development, and production of medical cannabinoid-based materials and new drugs. The company was established as a technology investment company of the Korea Institute of Science and Technology (KIST). Headed by CEO Jungyeob Ham, NeoCannBio aims to address rare and intractable diseases by leveraging its extensive research capabilities.

The company's business model covers the full spectrum of the medical cannabis industry, from cultivation to the manufacturing of final products. This includes smart farm cultivation, the production of medical-grade cannabinoids compliant with GMP standards, and the development of pharmaceuticals, cosmetics, and food products derived from cannabis. A key technological advantage is its use of a temperature-pressure control microwave (TCP-MW) processing technology, developed by KIST, which enables the high-purity production of Cannabidiol (CBD). Furthermore, NeoCannBio employs metabolic engineering for the sustainable and efficient mass production of various cannabinoids.

NeoCannBio has established a comprehensive cannabinoid library to facilitate the discovery of new therapeutic applications and provides material testing services. The company is an active participant in the Gyeongbuk Industrial Hemp Regulatory Free Zone, a special demonstration project in South Korea. Financially, NeoCannBio has shown significant growth, securing $7.47 million in a Series B funding round in September 2023, which brought its total funding to $10.9 million. This round included investors such as QUAD Investment Management, Bilanx Investment, and Donghoon Investment. The company is expanding its global presence, having established a joint venture in Thailand and an office in Tokyo, Japan, to target the Asian medical cannabis market.