Partners Investment, Global eye $150 mn biotech fund launch

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The story "Partners Investment, Global eye $150 mn biotech fund launch" was covered 5 hours ago by Korea Economic Daily, a news publisher based in South Korea.

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Partners Investment, Global eye $150 mn biotech fund launch - Korea Economic Daily

Quick Summary:

It is understood to manage more than 2 trillion won in assets.“Collaborating with Partners (Investment) positions us to pursue and invest in breakthrough therapies not only in the US but also in South Korea, a country increasingly active in the biopharmaceutical space,” said Craig Cordon, founder and CEO of GordonMD, in the press release.“We are eager to identify and help nurture innovation and growth among pre-clinical and clinical biopharmaceutical companies,” added Gordon, a physician.

South Korean venture capital firm Partners Investment said on Thursday it will raise up to 215.5 billion won ($150 million) in a biotech fund jointly with the US-based GordonMD Global Investments, targeting biopharmaceutical startups in Korea and the US.

Given the fund size of approximately 200 billion won, we are likely to invest in 10 companies each in South Korea and the US," said Jae An, managing directors of Partners Investment".