A Seoul-based venture capital firm founded in 2015 and affiliated with a leading pharmaceutical company in South Korea closed their first fund in 2016 and has recently raised a second fund of approximately $60M USD. The firm has made 8 investments to date, in 3 Korean and 5 USA-based companies. The firm continues to seek global opportunities. The firm generally participates in financings of Series B and beyond, participating in Series A rounds on a case-by-case basis. However, the firm has started to look for earlier stage opportunities and is most interested in spin-out assets and forming new companies in South Korea. Within this angle, the firm is highly interested in companies who are interested in entering the Korean market and looking to leverage on the capital and clinical infrastructure in South Korea.
The firm is focused on therapeutics companies and does not invest in medical devices, diagnostics, or digital health. The firm is open to considering assets of very early stages, even those as early as lead optimization phase. The firm considers various modalities, including antibodies, small molecules, and cell therapy. Currently, the firm is not interested in gene therapy. Indication-wise, the firm is most interested in oncology and autoimmune diseases but has recently looked at fibrotic diseases and certain rare diseases as well.
With regards to companies raising a Series A round, the firm prefers working with experienced management teams with high-profile scientific founders being involved. The firm incorporates a different strategy depending on the company’s headquarters. For companies based in South Korea, the firm serves as a hands-on, active investor and seeks board representation. In the USA, the firm prefers to be a more passive investor and generally seeks to co-invest with established venture capital firms that have a footprint in the USA.
If you are interested in more information about this investor and other investors tracked by LSN, please email mandates@lifesciencenation.com.
KOTRA, a global business platform, supports small and medium-sized Korean enterprises to explore overseas markets through its 127 offices/networks in 87 countries around the world. This year, KOTRA has partnered with KoreaBio (Korea Biotechnology Industry Organization), KIMST (Korea Institute of Marine Science & Technology Promotion) and COMPA (Commercialization Promotion Agency for R&D Outcome) in presenting a number of promising Korean biotech startups to the world. KOTRA strives to share its expertise and collaborate with these organizations to help biotech startups succeed, continue to grow, and expand its business abroad.
Korean Free Economic Zones are specially designated areas created to improve the business and living environment for foreign-invested firms in Korea. Since the 2003 inauguration of an FEZ in Incheon, the number of FEZs in operation has grown to eight: Incheon, Busan-Jinhae, Gwangyang Bay Area, Daegu-Gyeongbuk, Saemangeum-Gunsan, Yellow Sea, East Coast and Chungbuk.
DeepMedi developed the first monitor able to read blood pressure from only a smart phone camera without additional special equipment. Using their artificial intelligence based model, the user can estimate blood pressure from a pulse wave.
L-BASE has developed new peptide drugs for multi-drug-resistance cancers. By controlling the function of a new CTA (Cancer-Testis Antigen), CAGE, these peptide drug candidates can solve multi-drug resistances in cancer, especially lung cancer with T790M mutation and breast cancer. These drug candidates are a first in class in multi drug resistance and now at the stage of IND preparation. L-BASE has published more than 15 international papers on CAGE functions, and has applied for several IPs about peptides drug candidates which control CAGE function.
CellSafe is developing the first bone graft products with dual functions of bone formation and the inhibition of bone destruction which will replace BMP2 (Bone morphogenetic protein 2) products.
MDimune is developing innovative therapeutics for cancer and COPD in order to solve the highly unmet medical needs with BioDrone® technology, which is a target specific drug delivery platform based on artificial exosomes derived from human cells such as immune cells and stem cells.
NosQuest is a diagnostics company that develops analytical software and databases to identify microorganisms as well as to diagnose stages of diseases (currently breast & ovarian cancers). NosQuest is also developing an artificially intelligent cloud-based platform for library diagnostics where hospitals and eventually, patients can access the platform for diagnosis/prognosis.
RADIANQBiO offers breakthrough on-site microchip platforms in resource-poor settings for solving many global heath care challenges, such as rapid detection & prevention of foodborne and waterborne pathogens, to broaden access to unrestricted healthcare & pharmaceutical services, e.g. super-easy platforms for rapid drug screening & clinical trials.
PANAGENE is a sole provider of PNA (DNA analogue) for commercial use and has its own technologies for mass production and various application of PNA. PANAGENE’s diagnostic products are used to identify personalized medicine for patients with various cancer and to detect infectious diseases. Also, PANAGENE developed the first in class detection kit in liquid biopsy in Korea.
OPTOLANE is a semiconductor integrated In-Vitro Diagnostic (IVD) platform company that is developing POC-MDx solutions of real-time PCR (qPCR) and digital PCR (dPCR) system by using CMOS sensor based technology.
THE WAVE TALK developed a laser-based sensor detects any impurity (including bacteria), even in running water, and continuously and non-disruptively sends a signal to any device, including mobile applications. Their laser-based sensor is extremely more accurate than conventional lasers and is able to detect even low concentrations of bacteria based on its movements in real-time.
Infit & Company Inc. was established on the disruptive biological tissue-analyzing technology to fulfill new paradigm of healthcare. Quantified and physiological value will be used in various wellness and medical applications such as belly fat scanner, breast cancer diagnosis device.
Established in 2016 as a venture company, Quratis works as an important base for research partners to cover the Asian region including China with its TB vaccine and other products. Quratis, which has a long-term joint research project with Yonsei University Health System, concluded an exclusive license agreement with research partners for a tuberculosis vaccine in 2017.
This young social venture company manufactures pet food by up-cycling agricultural and fisheries products, which are undervalued with its corporate mission of “no life to be dumped”.
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