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March 19, 2024

KB Investment invests US$3m in US bio firm

PUBLISHED : January 15, 2019 - 15:38

UPDATED : January 15, 2019 - 16:24

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[THE INVESTOR] KB Investment, an affiliate of KB Financial Group, announced on Jan. 15 that it has invested US$3 million in US-based bio firm Neuroptika.

Established in December last year in Boston, Neuroptika was spun off from Japanese drug maker Senju Pharmaceutical, which was established in 1947. The company started developing new treatments at its lab in 2010, mainly for eye diseases. Sales last year reached around 37 billion yen (US$340.9 million), while posting 1.4 billion yen in operating profit.




“We expect to cure the dry eye syndrome by launching the first small-molecule drug that can recover damage to corneal nerve cells and improve sensory deterioration. We also aim to apply the tech for other diseases,” KB Investment official Shin Min-sik said in a statement.

According to the US company, the compounds that can be used for dry eye syndrome, which currently has high unmet medical needs, are currently going through phase 1 clinical trials.

KB Investment Executive Director Kook Chan-woo is set to join the board of Neuroptika to cooperate closely with the new startup.

The affiliate of KB Financial Group noted that it will continue to look for opportunities to expand its presence overseas, including in Israel, Southeast Asia and the US this year.

By Song Seung-hyun (ssh@heraldcorp.com)

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