LB Investment is showing strong performance. This is interpreted as being influenced by the news that Orum Therapeutics, a company invested in by the fund, has signed a technology export deal worth 1.3 trillion KRW with a U.S. pharmaceutical company.
As of 10:30 AM on the 19th, LB Investment is trading at 4,765 KRW, up 5.54% compared to the previous day.
According to industry sources, Orum Therapeutics has signed a global multi-target license and option agreement with U.S.-based Vertex Pharmaceuticals. Under this agreement, Vertex is granted research rights to discover a 'pre-treatment drug' administered before gene editing therapies using Orum's dual precision TPD technology called 'TPD Square.'
Through this contract, Orum Therapeutics will receive an upfront payment of 15 million USD (approximately 20.8 billion KRW). Additionally, it will receive options and milestones of up to 310 million USD (approximately 430 billion KRW) for each of up to three targets. If all three target contracts succeed, the total amount Orum Therapeutics will receive reaches 1.3 trillion KRW. The contract also allows for royalty payments after commercialization.
Meanwhile, LB Investment manages assets under management (AUM) of 1.2 trillion KRW, operating a total of 11 VC funds and 1 PEF. It holds Orum Therapeutics in a fund scheduled for liquidation.
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