Friday, February 15, 2008

Chemizon-Oakwood Bioventures to Fund NewCo

An agreement was reached with Longmont-based Chemizon and the Korean Research Institute of Bioscience and Biotechnology (KRIBB) to spin out a new biotech company designed to commercialize KRIBB’s intellectual property assets with an emphasis on technologies targeting the discovery of drugs that address unmet medical needs. The deal is led by Chemizon-Oakwood Bioventures private equity fund. Chemizon will collaborate with the TBD new biotech company and aid in the conversion of its discoveries into small molecule therapeutics.

The Korean Research Institute of Bioscience and Biotechnology is Korea’s largest government funded biology-focused research institute and is dedicated to basic biotechnology research spanning a broad range of interests including studies for the fundamental understanding of life threatening diseases, novel biomaterials, bioinformatics and drug discovery.

Note to self: Obtain a better understanding who/what/where of Chemizon-Oakwood Bioventures

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