[SIGNAL] Biorchestra Attracts 20 Billion Series B… “VC-Chong Kun Dang Participation”14 January 2020
Daily · SBI · CKD including participation
secured investment of the global preclinical Alzheimer's treatment
Reporter Park Ho-hyun 2019-08-21 09:30:30
Alzheimer's New Drug Development Bioventure Biorchestra has completed the investment of 20 billion Series B. In addition to the domestic venture capital(VC) industry, Chong Kun Dang Holdings also participated as a strategic investor(SI).
According to the VC industry on the 21st, Biorchestra's Daily Partners, SBI Investment, CKD Changtu, LSK Investment, NHN Investment, E & V Venture Partners, etc. participated in the series B as financial investors. In particular, Chong Kun Dang Holdings, a holding company of a large Korean pharmaceutical company, Chong Kun Dang, has named it as a strategic investor in the series B stage.
Chong Kun Dang Holdings invested around 5 billion won. In particular, Chong Kun Dang has secured a portfolio of Alzheimer's disease treatment for dementia. The two companies are also planning to develop Parkinson's and Lou Gehrig's therapies. After investment, the company's value was reported to be around 100 billion won.
Although the initial investment amount was 15 billion won, Chong Kun Dang Holdings participated as an additional investor at the end, increasing the investment to 20 billion won. Investor sentiment is deteriorating due to the recent failure of large bio companies in clinical trials. However, this month, the early bio companies that emphasized technology such as Biorchestra and NextgenBio were successfully attracted. An industry official said, “The atmosphere is entering the second half of the first half of this year, and the negative effects of the pharmaceutical and bio industry are bursting, and the sentiment for bioventure is weakened. Biorchestra is an RNA drug research and development company founded in 2016. The representative pipeline, BMD-001, passes through the cerebrovascular barrier through a self-developed drug delivery vehicle and new drugs activate the macrophages of brain immune cells. It is a new drug for the treatment of Alzheimer's dementia with a multi-layered mechanism that removes toxic proteins and suppresses the inflammatory response of immune cells. The company has applied for 14 domestic and foreign patents for microRNA-based research. CEO Jin-hyeob Ryu said, “Severe side effects such as inflammation and brain edema are caused by drugs, and many companies are struggling to develop Alzheimer's treatment for dementia.” "We will develop Alzheimer's-type dementia drugs."
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