CrystalGenomics, Inc., a Korean clinical stage biopharmaceutical company, has raised KRW3Bn (approximately $2.6m) in a private placement to the Korea Seoul Life Science Fund (KSLSF).
GPs of the KSLSF include local VC company Hanwha Venture Capital Corp., and Oxford Bioscience Partners (OBP), a Boston-based VC firm. This follows a KRW10bn bond issuance to KDB Capital, a financial institution in Korea and another KRW10bn in bonds issued to Tube Investment, a local investment firm in December.
This brings the total capital raised by the company to date to KRW 23Bn (approximately $20m).
Led by President & CEO Dr. JM Cho, CrystalGenomics intends to use the funds to support its R&D including three clinical stage therapeutic programs.