South Korea comes to rescue of G-treeBNT biotech with $7.3M

South Korea's government has stepped in and offered $7.3 million to G-treeBNT to assist the local company in its joint venture with U.S. drugmaker RegenRx Biopharmaceuticals to develop a treatment for dry-eye syndrome and neurotrophic keratopathy in America.

Their JV is ReGenTree, and their drug for now is labeled RGN-259/GBT-201. South Korea's government contribution was intended to help make G-treeBNT a global biopharmaceutical company.

The company said ReGenTree has hopes of becoming "an outstanding specialty biopharmaceutical company."

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