HONG KONG – South Korea's 3billion Inc., a rare genetic diseases diagnosis startup based in Seoul, has secured ?11.4 billion (US$9.6 million) in a series B investment. The company was founded in 2016 as a spinoff of Macrogen Inc., a Seoul-based genetic sequencing biotech, and raised ?3 billion in a series A funding last year.
HONG KONG – Kobiolabs Inc., a microbiome-based venture from Seoul, South Korea, has secured a ?26.6 billion (US$22.2 million) investment. Founded in 2014, the venture has achieved ?193 billion of enterprise value.
HONG KONG – Upin & Co. Ltd., a fund and asset management company headquartered in London, plans to invest a total of KRW2 trillion (US$1.7 billion) over three years in the South Korean biopharma industry. The U.K. company will use a European fund and human resources network to organize the K-Bio Medical Development Fund (KBMDF), which will include funds of KRW300 billion for the first round, KRW700 billion for the second, and KRW1 trillion for the third round.
HONG KONG – South Korean pharmaceutical company Chong Kun Dang Holdings recently invested KRW5 billion (US$4.1 million) in Biorchestra Co. Ltd., a Korean startup based in Daejeon that aims to develop Alzheimer's dementia treatment based on microRNA.
HONG KONG – South Korean biotech Bioleaders Co. Ltd., headquartered in Yong-in city, Gyeonggi-do, and Israel's Weizmann Institute of Science, based in Rehovot, recently founded a joint venture in Israel. With the new entity, they will accelerate the R&D of a Weizmann-developed approach targeting p53, a strong tumor suppressor that has proved difficult to drug.
HONG KONG – South Korea's Chong Kun Dang (CKD) Pharmaceutical Corp. received approval for its novel erythropoiesis stimulating protein (NESP) biosimilar from Japan's Ministry of Health, Labour and Welfare (MHLW). The drug (CKD-1110) is world's first NESP biosimilar to treat anemia.
HONG KONG – In vitro diagnostic company Cube Bio Co. Ltd., of Seoul, South Korea, has inked an agreement worth KRW3 trillion (US$2.5 billion) with Moscow-based Standart-Biotest LLC to export its cancer self-diagnostic kits for five years to Russia and the Commonwealth of Independent States (CIS).
HONG KONG – South Korea's Chong Kun Dang (CKD) Pharmaceutical Corp. received approval for its novel erythropoiesis stimulating protein (NESP) biosimilar from Japan's Ministry of Health, Labour and Welfare (MHLW). The drug (CKD-11101) is world's first NESP biosimilar to treat anemia.
HONG KONG – South Korean biotech Bioleaders Co. Ltd., headquartered in Yong-in city, Gyeonggi-do, and Israel's Weizmann Institute of Science, based in Rehovot, recently founded a joint venture in Israel. With the new entity, they will accelerate the R&D of a Weizmann-developed approach targeting p53, a strong tumor suppressor that has proved difficult to drug.
HONG KONG – South Korean biomarker-based molecular diagnostic firm Genomictree Inc. has built a U.S. unit in Pasadena, Calif., with an investment of KRW12 billion (US$10 million). The Daejeon, South Korean-based company first disclosed its plan to build the U.S. branch in March.
