Korea-headquartered drug producer Hanmi Pharmaceutical will back biotech and pharmaceutical startups through its newly formed Hanmi Ventures subsidiary.
South Korea-based pharmaceutical company Hanmi Pharmaceutical has formed a ₩10bn ($8.7m) corporate venturing fund called Hanmi Ventures, the Korea Herald has reported.
Jonghoon Lim, CEO of the firm’s Hanmi IT division, will head the unit. He told the Herald: “We will contribute to create an open innovation ecosystem by focusing on discovering new drug candidates and pharmaceutical and biotech startups.”
Hanmi raised the capital for the fund from its chairman Lim Sung-ki and other, undisclosed affiliates of the company.
The…
