A major South Korean stem cell research firm is making its national debut in Montgomery County, officials will announce this afternoon at a signing ceremony.
RNL Bio Inc., a leading biosciences company in Seoul, is moving its U.S. counterpart, RNL Biostar, into the county?s first business incubator in Shady Grove.
The news comes at a time when stem cell research is making headlines in a number of political races, with Michael J. Fox appearing in a series of TV ads supporting the use of embryonic cells for research.
RNL is a publicly traded company researching the use of adult stem cells for the therapeutic treatment of disease.
Wonnie Lee, representing Washington Global Fund, which is supporting the U.S. arm of the company, said the company?s three areas of research are vascular disease treatment, hair loss treatment and bone fracture treatment.
Scientists with RNL will work with personnel from Johns Hopkins University?s School of Medicine in these disciplines.
“We?re looking to collaborate for further advancement in these areas,” Lee said, explaining that in South Korea the company has already established a stem cell bank and has been highly successful. “The idea is to bring our technology to the United States.”
Initially, he said, three or four workers will be housed in the Shady Grove incubator. Then, over the next year, that number should at least quadruple.
This is the second announcement in two days about additions to Montgomery County?s Shady Grove business incubator network. That facility is one of three networks now housed in the county to help start-ups grow.
Joe Shapiro, a spokesman for the county?s Economic Development Department, said Wednesday that RNL Biostar?s highly successful parent company makes this is a different sort of addition for the incubator.
“They?re coming from a great track record, so it?s not your typical start-up,” Shapiro noted. “But it?s very exciting for Montgomery County.”
Lee added that the decision to move operations to the state also had to do with Maryland?s proactive policies in the area of stem cell research.
In July, a $15 million Maryland Stem Cell Research Fund was created to provide grants for private and public entities to advance stem cell studies.
