Lotte to Enter Bio Industry... "Discussing Investment in Enzychem Lifesciences"

[Asia Economy Reporter Jo In-kyung] Lotte Group is pushing to enter the bio business as a new venture.

According to Lotte Group on the 22nd, Lotte Holdings has recently been discussing cooperation plans with Enzychem Lifesciences, a bio venture company listed on KOSDAQ. Cooperation methods under consideration include equity investment or establishing a joint venture.

A Lotte Holdings official stated, "As announced in this year's New Year's address and executive meetings, we are exploring various investment opportunities in new growth projects, and cooperation with Enzychem Lifesciences is one of the businesses under review," adding, "Although multiple options are being discussed at the working level, nothing has been decided yet."

Enzychem Lifesciences, founded in 1999, is a new drug development venture company engaged in active pharmaceutical ingredients, global health functional foods, and global new drug development. It has received approval from the U.S. Food and Drug Administration (FDA) and is currently conducting Phase 2 clinical trials for COVID-19 virus treatments.

As countries around the world race to develop vaccines and treatments to overcome COVID-19, Korean bio venture company Engicam Life Sciences is conducting Phase 2 clinical trials after receiving approval for a new drug substance from the U.S. Food and Drug Administration (FDA). Ahead of the New Year 2021, a researcher is focused on COVID-19 treatment research at Engicam Life Sciences Central Research Institute in Jecheon, Chungbuk. Photo by Jinhyung Kang aymsdream@

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