[Asia Economy Reporter Park Hyungsoo] Amid a sharp decline in the domestic stock market, the stock price of Aju IB Investment is showing strength. News of excellent performance in its bio portfolio investments appears to be influencing the stock price.
As of 9:18 AM on the 26th, Aju IB Investment is trading at 4,235 KRW, up 3.42% from the previous day.
On the previous day, an economic newspaper reported that the US company Molecular Templates recently signed a large-scale license out contract with the global pharmaceutical company Bristol Myers Squibb. Molecular Templates is a US-based cancer treatment development company. They signed a license out contract worth $1.37 billion (approximately 1.5 trillion KRW) with Bristol Myers Squibb.
Aju IB Investment entered the US market in December 2013. As of the end of last year, it had invested in a total of 29 companies, 15 of which are listed on NASDAQ. In 2014, Aju IB Investment invested in Molecular Templates through its US local subsidiary, SolarStar Ventures. It is known to have participated as an early investor and achieved a high investment return.
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