Partnership with ARCH Venture Partners

Park Chan-hee (second from left), CTO of JW Group, and Keith L. Crandell (center), co-founder of ARCH Venture Partners, pose for a photo after signing a business agreement on July 13.

JW Group announced on July 13 that it has signed a business agreement with ARCH Venture Partners, a U.S. venture capital (VC), to promote open innovation with global biotech companies.

Under this contract, JW Group will be granted access to the ARCH Technical Service (ATS), which provides technical information of promising biotech companies to strategic investors interested in business cooperation with venture companies.

ARCH Venture Partners is the largest venture capital firm in the United States. It invests in promising healthcare companies with innovative technologies. This is the first time that a Korean pharmaceutical company has joined hands with a biotech and healthcare venture capital firm in the United States to promote open innovation in basic research. JW Group is planning to expand its open innovation partners to global biotech giants by utilizing the ATS.

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