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It is difficult to secure domestic funding for bio ventures

By Hwang, Jin-joon | translator Kim, Jung-Ju

23.04.05 12:16:29

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KDDF Supports Next-Generation Drug ADC Project

 ¡ãHead of KDDF, Muk Hyun-sang, is presenting major business plans for this year. (Photo: Dailypharm)

"It is not easy to change KDDF's funding method. It is possible to raise funds only when investors flock to it, but in order to attract funds from the United States, we are planning an event to invite major US VCs to invest in Korean bio ventures in July. are doing." Muk Hyun-sang, head of KDDF, made this announcement at a press conference held on the 5th at the Korea Chamber of Commerce and Industry's mid-sized conference room in Jung-gu, Seoul to mark the 2nd anniversary of KDDF's launch. Director Muk Hyun-sang explained, "I thought KDDF funds were priming water," and explained, "If you support about 10% of the necessary R&D costs, the company has raised 15 billion won by itself, but it is currently difficult."
Hwang, Jin-joon(jin@dailypharm.com)
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