Investment Venture
Hanmi Pharmaceutical Group announced on July 4 that it has founded Hanmi Ventures that will develop candidate substances of promising new drugs at an early stage and invest in new pharmaceutical and biotech related fields. Hanmi Ventures is the financing investment company, established with 10 billion won funding from Hanmi Phamaceutical Group Chairman Lim Sung-ki as well as its affiliates. The company completed its registration with the related authority on June 29.
Hanmi initially planned to set up the new company through a direct investment by the holding company Hanmi Science, but as the Fair Trade Act prohibits the holding company from owning a financing arm as its affiliate, Hanmi adopted this way to establish the financial arm, according to the company.
Hanmi Ventures will carry out a wide range of investment activities in an effort to create an open innovation ecosystem by developing candidate substances of promising new medicines at an early stage and making strategic investments in new pharmaceutical and bio ventures and others.
In addition to that, as Hanmi Science and Hanmi Pharmaceutical will take charge of investments in the candidate substances at the stage of commercialization and small and midsize businesses, Hanmi Phamaceutical Group and Hanmi Ventures are planning to work together to concentrate their energies on securing growth engines of the group’s affiliates and creating an ecosystem for new drug development.
“Hanmi Ventures has been established with the goal of contributing to the creation of an open innovation ecosystem by focusing on discovery of new drug compounds and making investment in new pharmaceuticals and bio ventures,” said the CEO Lim Jong-hoon, adding “We will build up a foundation for shared growth with competent pharm and bio startups.”