LabGenomics Establishes Bio Venture Capital... "Investing in Early-Stage Drug Development Companies"

[Asia Economy Reporter Minji Lee] LabGenomics, a molecular diagnostics healthcare specialist company, announced on the 13th that it will establish a venture capital firm to secure future growth engines.

LabGenomics disclosed a board resolution on the establishment of its subsidiary Lead Compass Investment (VC) on the same day and plans to complete the approval process within the first half of the year and actively engage in venture investment.

The inaugural CEO appointed is Kim Tae-eok, former head of the Pan-Government New Drug Development Project Group. CEO Kim Tae-eok, who majored in Technology Economics at the University of Leeds in the UK, has over 10 years of experience in technology commercialization and pharmaceutical licensing consulting services, and has served as the head of strategy and business divisions at the Pan-Government New Drug Development Project Group since 2015.

LabGenomics' entry into the venture capital business is part of its business diversification strategy. The main investment targets will focus on the bio-health sector, including new drug development and digital healthcare.

In particular, through cooperative systems with universities and research institutes in Europe with excellent basic research capabilities, LabGenomics plans to invest in early-stage venture companies developing new drugs based on next-generation modalities, or introduce new investment models domestically where venture capital firms lead startups and investments by packaging completely new concept technologies.

LabGenomics is also considering mergers and acquisitions from a mid- to long-term perspective for companies within its investment portfolio that can create strategic synergies.

LabGenomics stated, “We plan to form an investment team centered on personnel with expertise in the bio field to focus on investing in bio venture companies,” adding, “We will make bold investments in promising early-stage companies worldwide in next-generation technology fields to contribute to strengthening competitiveness.”