BERTIS Attracted An Investment of 16 Billion Won Through Pre-IPO

- With High Market Interest In Proteomics ... Participation of Smilegate Investment, NH Investment & Securities, etc.
- Aims to get listed on KOSDAQ in 2021, Focused to expand pipelines

such as Cardiovascular Disease, Pancreatic Cancer, Ovarian Cancer, Etc.

<BERTIS CI>

BERTIS (CEO, Han Seung-man), a company that developed early diagnosis technology based on proteomics, said it completed a pre-IPO worth a total of 16 billion won.

Since September, BERTIS has attracted a total of 16 billion won worth of investment in recognition of its technology and the value of its flagship product 'MASTOCHECK' from 8 institutional investors, Smilegate Investment, NH Investment & Securities, Premier Partners, KCLAVIS Investment, Meritz Fire & Marine Insurance, BNH Investment, Dreamstone Partners, and Focus Asset Management. 

The initial plan was to raise around 10 billion won, but with many investors' interest, BERTIS was able to close series C with 16B Won. This series proceeded as a convertible preferred stock style, and the company’s new valuation settled at around 120 billion won.

BERTIS is a company that combines proteomics and artificial intelligence (AI) to develop markers for early diagnosis for various major diseases, including cancers. BERTIS provides them as diagnostic services, and it has recently attracted attention as investors and markets have increased interest in proteomics.

Proteomics is a study to identify life phenomena by analyzing the functions and structures of millions of proteins in living bodies. Proteomics is under the spotlight as a next-generation diagnostic technology along with genomics. The diagnostic market is emphasizing the necessity of finding out the gene mutation's transition into disease-causing protein.

BERTIS developed NexQ Prot™, the quantitative proteomics platform, by acquiring protein data, focusing on developing its technology more adequate for commercial use. The platform helped improve reproducibility, speed, cost reduction, and it dramatically shortens the period of commercialization of diagnostic services, thereby gaining unrivaled technological prowess. Next Prot™ can also be used in various fields such as peptide therapeutics, due to its excellent expandability.

'MASTOCHECK' representative product is a blood test method to diagnose breast cancer in an early stage with 92% accuracy (based on the patent). It started to be used at major medical examination centers in the second half of this year and succeeded in commercialization, which is rare as a proteomics-based diagnostic product. 

BERTIS will focus on expanding its pipeline and accelerating its overseas expansion with the funds secured from this investment. It will speed up the development of techniques for early diagnosis of cardiovascular diseases, pancreatic cancer, ovarian cancer, and depression, in addition to MASTOCHECK 2, which has improved accuracy with additional markers. It also plans to launch MASTOCHECK's overseas expansion to solidify its position as a leading proteomics company. 

Seung-man Han the CEO of B said, "I think the success of this investment attraction is recognized for the future value and growth potential of B as a representative company of proteomics." He added, "We will do our best to lead Korea's early diagnosis technology based on the inexhaustible potential of proteomics." 

Meanwhile, market expectations for proteomics are also prominent in the United States. Seer, a U.S. proteomics research firm, drew attention to rapid growth after it was listed on NASDAQ earlier this month. On the first day of its listing (December 4, local time), its stock price surged to 197% compared to the offering price ($19) and then continued to rise. The market capitalization exceeded 5 trillion won on the 10th and closed at $62.04 on the 24th.