[Special Stock] Kangstem Biotech, R&D 5.8 Trillion Investment, Major Pharma Boehringer Ingelheim's Increased Expectations for Korean Venture Investment

Gangstem Biotech is showing strong performance. This is interpreted as being influenced by the news that its affiliate Primoris Therapeutics, which holds a 47% stake, will participate in a visit event for investment purposes by the global pharmaceutical company Boehringer Ingelheim.

As of 9:26 AM on the 14th, Gangstem Biotech is trading at 2,310 KRW, up 5.72% from the previous day.

According to the industry, German Boehringer Ingelheim is known to directly participate in the 'Open Innovation Conference' event jointly hosted by the bio-specialized venture capital Daily Partners and the Korea Innovative Medicines Consortium (KIMCo) on this day to invest in promising bio ventures.

At this event, a platform is provided where bio venture companies invested by Daily Partners can discuss one-on-one with domestic and international strategic investors (SI) about technology partnerships, research and development (R&D) collaboration, and follow-up investments. Major domestic pharmaceutical and bio companies such as SK Chemicals, Yuhan Corporation, and JW Pharmaceutical participate, and Boehringer Ingelheim is the only overseas company participating.

Boehringer Ingelheim is a global pharmaceutical company that spent 4.1 billion euros (approximately 5.8 trillion KRW) on research and development (R&D) investment as of 2021. Yifang Cui, head of the Boehringer Ingelheim Venture Fund (BIVF), will attend this Open Innovation event. The venture fund size is 300 million euros (approximately 428.7 billion KRW), and it has invested in 64 companies from 2010 to 2022.

The bio venture companies participating in this Open Innovation event are ▲BioOrchestra ▲JD Bioscience ▲TomoCube ▲Cellapeutics Bio ▲MD Immun ▲Meditrix ▲Jinselmed ▲Primoris Therapeutics ▲Y-Biologics ▲Areum Therapeutics ▲Neuracle Genetics ▲Regen InnoPharm ▲Mirimjin ▲Selemedi ▲Next Euro ▲Ensol Bioscience ▲TCN BioScience ▲Optico ▲G2E, totaling 20 companies.

Meanwhile, Gangstem Biotech is the largest shareholder holding a 47% stake in Primoris Therapeutics. Primoris Therapeutics' main pipeline is a burn treatment drug. In preclinical trials, after establishing a wound animal model using rats, treatment with exosomes on the wound area confirmed that the epidermis of the damaged area regenerated quickly without scarring and the skin tissue was restored compared to existing treatments.