Lotte Ventures (CEO Seung-wook Kim), a corporate venture capital (CVC) of Lotte Group, announced on the 6th that it has signed a memorandum of understanding (MOU) with Seoul National University Bundang Hospital to discover and jointly foster promising companies in the biohealth field.
The signing ceremony was attended by Lotte Ventures CEO Kim Seung-wook, Seoul National University Bundang Hospital Biomedical Research Institute Director Lee Hak-jong, and representatives from both organizations. The agreement aims to foster the growth of biohealth startups and foster an industrial ecosystem by combining Lotte Ventures' startup investment and acceleration capabilities with Seoul National University Bundang Hospital's medical and technology research capabilities.
Through this agreement, the two organizations plan to establish a systematic foundation for cooperation and jointly pursue the following areas: ▲Startup discovery and strengthening of cooperative networks through bio support programs; ▲Regular exchanges for technology exchange and information sharing; ▲Joint nurturing and follow-up support for startups; and ▲Establishing commercialization models through joint research and innovative technology development.
Kim Seung-wook, CEO of Lotte Ventures, said, “Through this collaboration, we expect to discover promising biohealth startups early on and accelerate their market entry and scale-up through a joint verification system with Seoul National University Bundang Hospital.” He added, “In the future, we will contribute to strengthening the competitiveness of the domestic biohealth industry by linking with the network of Lotte Group affiliates, including Lotte BioLogics.”
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