Korea Innovative Pharmaceuticals Consortium and Eugene Securities Foster Bio Ventures

The Korea Innovative Pharmaceuticals Consortium Foundation announced on the 6th that it has signed a mutual cooperation memorandum of understanding (MOU) with Eugene Investment & Securities, focusing on discovering and nurturing innovative bio ventures.

Through this MOU, both parties agreed to cooperate in providing financial and non-financial support to activate investment in promising bio ventures, connecting optimized networks for the business, technology development, and growth of promising bio ventures, and establishing necessary business and cooperation systems for mutual development.

Heo Kyunghwa, CEO of the Korea Innovative Pharmaceuticals Consortium (left), and Ko Kyungmo, CEO of Eugene Investment & Securities, are posing for a commemorative photo after signing a mutual cooperation agreement (MOU) focused on discovering and nurturing bio ventures.

In June, Eugene Investment & Securities was selected as a new operator of the Scale-up TIPS program by the Ministry of SMEs and Startups. Scale-up TIPS is a private-led R&D support program for promising technology-based small and medium-sized ventures. If the operator discovers and invests first (over 1 billion KRW) in promising companies at the scale-up stage, the government provides a follow-up matching investment (matching investment by the Korea Fund of Funds up to 2 billion KRW at a 1:1 ratio).

The Korea Innovative Pharmaceuticals Consortium has consistently promoted cooperation with specialized institutions for the entire R&D cycle, including preclinical and clinical stages.

Huh Kyunghwa, CEO of the Korea Innovative Pharmaceuticals Consortium, stated, "In the current global environment where investment conditions are challenging, we will jointly discover and nurture promising bio venture companies with innovative technologies and business models through organic cooperation with Eugene Investment & Securities."

Eugene Investment & Securities, selected as the operator for the 4th Scale-up TIPS program by the Ministry of SMEs and Startups, has formed a consortium with six specialized institutions as the lead operator. The consortium includes specialized contract research organizations for preclinical trials (Kiphron Bio) and clinical trials (DreamCIS).

This content was produced with the assistance of AI translation services.