Kiwoom Investment, a venture capital of Dow Kiwoom Group, made a major investment just a month after it was selected as the operator of the Korea parent fund. The first investment company is NeuroLive, a developer of treatments for central nervous system diseases.
According to the investment (IB) industry on the 3rd, Kiwoom New Hero 1 Fund, operated by Kiwoom Investment, invested 1 billion won in NeuroLive, a bio venture company.
Founded in 2019, NeuroLive is a company that develops treatments for central nervous system (CNS) diseases such as depression and Alzheimer's. Central nervous system diseases such as degenerative brain diseases are difficult to develop new drugs and have great side effects from existing drugs. This is because the understanding of the brain and various diseases is still low, and the results of basic research are difficult to lead to clinical trials.
Due to the high demand for new drug development, related technologies are actively traded in the global pharmaceutical market, and domestic pharmaceutical companies are also showing great interest in treatments. NeuroLive is a system that can quickly measure synaptic plasticity evaluation, which has been widely used in conventional drug confirmation research, in the drug screening stage, and has the capacity to minimize clinical failure of drugs.
Among them, the current core pipeline is a treatment for depression, aiming to enter the clinical stage next year and transfer technology in 2023. Kiwoom Investment made the investment in anticipation of the rapid growth of NeuroLive's corporate value in the future.
Kiwoom New Hero No. 1 Fund, an investment entity, is a venture fund formed by Kiwoom Investment last month with an investment from its parent fund worth 30 billion won. Kiwoom Investment, which had secured LOCs of other investors in advance, began to form a fund simultaneously with the selection of a consignment management company (GP) and completed the formation of the fund as the first of the parent fund associations this year on the 20th of last month.
The fund is the first fund to be formed after receiving investments from external LPs since CEO Kim Dong-joon took office. The fund is an investment target for bio and ICT service companies in the early stages of their start-ups. Kiwoom Investment's strategy is to first invest in the early stages of its start-up and then develop prospective unicorn companies through follow-up investments.
Kang hoon Jung Reporter(jkh174@paxnetnews.com)
URL : https://paxnetnews.com/articles/61258
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