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A South Korean investment firm starts first US biotech fund

January 18, 2024


Mirae Asset Capital Life Science, a new venture capital fund, launched on Thursday, joining several other new firms that have recently emerged with plans to invest in drug startups.

The fund is a spinout of Mirae Asset Financial Group, a global investment firm headquartered in South Korea that has previously backed young biotechnology companies such as Septerna and Crossbow Therapeutics.

Mirae is starting with $50 million and intends to primarily invest in biotech startups developing new medicines. However, it will also be “opportunistic” in backing diagnostics developers and the makers of high-powered computing tools for drug discovery.

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