Yuhan Corp. said it has invested 6 billion won ($5.09 million) in Imnewrun Biosciences' seed round funding.
The latter is a new research institute established by two professors of Sungkyunkwan University and Kim Han-ju, a former employee of Yuhan, in April. The company focuses on basic scientific research to develop new therapies for people suffering from incurable diseases. It has various intellectual properties multi-platform technology for developing next-generation therapeutics.
The company's primary technology consists of blood-brain barrier (BBB) permeable drug delivery platform technology that combines with various drugs and in vivo live imaging technology that quantitatively measures the permeability of the cerebral blood vessel barrier of drugs.
Yuhan said the company’s investment in Imnewrun is part of its open innovation initiative, coming after the signing of a business agreement with Sungkyunkwan University to build a comprehensive and strategic partnership for the development of the national bio-industry and the promotion of human health.
Yuhan plans to develop a BBB penetrating brain disease treatment jointly with Imnewrun Biosciences and intends to strengthen its new drug pipeline for brain diseases such as brain cancer and degenerative brain diseases.
"This investment is an opportunity for Yuhan, Sungkyunkwan University, and Imnewrun Biosciences to promote the future-oriented development of the national biotechnology industry and challenge the development of next-generation innovative drugs," Yuhan CEO Lee Jung-hee said.
Yuhan will continue to nurture the bio-industry ecosystem by developing new incurable diseases with innovative science and technology, he added.