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Ildong Pharmaceutical Invests KRW 13,000,000,000 in iLeadBMS to Strengthen the Ecosystem of Novel Drug R&D
July 15, 2021
Ildong Pharmaceutical (CEO Paul Woongsup Yun) announced that it will make an equity investment worth 13 billion won in iLeadBMS (CEO Yoon-seok Lee), a company specializing in new drug development.
Ildong Pharmaceutical held a board meeting on the 14th and decided to acquire 2.6 million shares of iLeadBMS which will equate to a final stake of about 40% of the company and, incorporate the company as an affiliate of Ildong Pharmaceutical.
iLeadBMS is a biotech specializing in discovery of small molecule based new drugs that started as an in-house venture team at Ildong Pharmaceutical's Central Research Institute and became independent last year. Ildong Pharmaceutical operates an in-house venture system to strengthen the creativity and ownership of its researchers and build a sustainable R&D ecosystem.
The Company highly regarded iLeadBMS’ capabilities to develop superior drug candidates as it has developed around ten candidates following its establishment, and the fact iLeadBMS encompasses advanced platform technologies and processes for novel drug discovery.
Based on these strengths, iLeadBMS has decided to receive investment from multiple external institutions in addition to Ildong Pharmaceutical.
Incorporation of iLeadBMS as an affiliate will enable Ildong Pharmaceutical Group to further strengthen its R&D subsidiary system along with Idience, a company that specializes in the clinical development of new drugs and Ames Bioscience, a clinical pharmacology consulting company.
Through this investment, the Company aims to improve its expertise in each field of R&D and ultimately build a competitive R&D ecosystem by increasing the quality, speed, and success probability of new drug development through internal cooperation and interactions.
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