Ildong Pharmaceutical Invests in New Drug Development Company IRID BMS... Subsidiary Integration

Ildong Pharmaceutical Headquarters Exterior (Photo by Ildong Pharmaceutical)

[Asia Economy Reporter Chunhee Lee] Ildong Pharmaceutical has decided to invest 13 billion KRW in equity in the new drug development specialist company ileadBMS.

On the 14th, Ildong Pharmaceutical held a board meeting and announced on the 15th that it decided to acquire 2.6 million shares of ileadBMS, securing approximately 40% equity, and to incorporate the company as an affiliate of Ildong Pharmaceutical.

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ileadBMS, which started as an in-house venture team at Ildong Pharmaceutical’s Central Research Institute, is a biotech company specializing in low-molecular-weight compound drug discovery that became independent last year. Ildong Pharmaceutical operates an in-house venture system to enhance researchers’ creativity and ownership while building a sustainable research and development (R&D) ecosystem.

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Since its establishment, ileadBMS has been evaluated as having excellent candidate discovery capabilities, having derived numerous new candidate substances and secured more than ten pipelines. Ildong Pharmaceutical also highly valued the company’s possession of advanced drug-related platform technologies and processes.

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An Ildong Pharmaceutical official said, "With this incorporation as an affiliate, the Ildong Pharmaceutical Group will be able to further strengthen its R&D specialized affiliate system along with the new drug clinical development specialist company IDEANS and the clinical pharmacology consulting specialist company AIMS Bioscience," adding, "We will enhance the quality, speed, and potential of new drug development to build a competitive R&D ecosystem."

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