Montreal, Munich/Seoul, 02.12.2013 – Bukwang Pharm. Co. Ltd. and TVM Capital Life Science announced today that both companies signed a global partnership agreement. Bukwang is a well-established pharmaceutical company engaged in the development, manufacture and distribution of pharmaceutical products with a company history of more than 50 years. The company’s products portfolio includes a range of agents to treat metabolic disease, gastrointestinal disorders, cancer as well as CNS disorders.
TVM Capital Life Science is an international venture capital firm with offices in Montreal and Munich. The team’s mission is to invest in the development of exciting early stage drug candidates and companies that are or aspire to be innovative leaders in their market segment. TVM Capita Life Science combines a 25 year international investment and company building experience with extensive global networks in the world of life science research and product development and a direct knowledge of the local markets.
As part of the agreement, TVM Capital Life Science will support Bukwang with relevant clinical stage business development opportunities from the wider TVM Capital Life Science network in Canada, the USA and Europe in Bukwang’s core therapeutic areas as described above. TVM Capital Life Science may also provide direct and indirect financing support for Bukwang’s target companies. In return, Bukwang will become a strategic collaboration partner for TVM Capital Life Science in Korea and Asia as well as Limited Partner in TVM Life Science Ventures VII.
Mr. Sang-Hoon Kim, CEO and President of Bukwang, stated: “We have been very impressed with TVM’s market position as a leading Western Venture Capital firm and their ability to work closely with my team. Bukwang is already pursuing various TVM Capital Life Science proposals to enhance our pipeline and we are using our and TVM Capital Life Science’s advisors to evaluate those opportunities. We are very much looking forward to working with TVM Capital Life Science in the future.”
Dr. Hubert Birner, Managing Partner of TVM Capital Life Science, commented: “Bukwang is a very attractive partner for us in Korea given their strong growth objectives in disease areas where we have a long track record and strong networks both in Europe and North America. We consider the partnership with Bukwang as a key stepping stone to become an important player in the Korean pharma industry.”
About Bukwang Pharma Co. Ltd.
Bukwang Pharm. Co., Ltd. is a leading Korean pharmaceutical company listed on the Korean Stock Exchange [KRX:003000]. The company has been in business for over 50 years, and achieved US$130 million in sales in 2012. Sales are primarily derived from products licensed from Europe, the United States, and Japan. The company is currently investing significant resources in R&D to create a robust pipeline of preclinical and clinical agents for the treatment of antiviral diseases, gastrointestinal disorders, CNS disorders and metabolic disease. www.bukwang.co.kr
About TVM Capital Life Science
TVM Capital Life Science is providing venture capital to the international pharmaceutical, biopharmaceutical and medical technology industries with more than 25-years of transatlantic investment track record and in excess of US$1.1bn under management. The life science team boasts more than 120 investments and almost 90 exits in the last 25 years, including more than 40 initial public offerings on all major U.S. and European stock exchanges, and combines long-standing international investment and company building experience with their track record of dedicated board work, extensive global networks in the world of life science research and product development and a direct knowledge of the local markets. TVM Capital Life Science currently invests from its 7th fund generation, TVM Life Science Ventures VII, with an integrated team of investment professionals. Fund generations III to VI are managed by Managing Partners, Dr. Helmut M. Schühsler and Dr. Hubert Birner out of the Munich office. The new fund TVM LSV VII is advised by Dr. Hubert Birner and Dr. Luc Marengere out of Montreal. www.tvm-capital.com or www.tvm-lifescience.com
About TVM Capital
TVM Capital is a group of globally acting venture capital and private equity firms with an operating track record of 30 years. Investment teams have financed more than 250 emerging companies across several industries since 1984. During the last 15 years the firm has become increasingly specialized in the most attractive and high-growth verticals in the broader healthcare markets, with focus areas in financing innovative products and technologies in the European and U.S. biopharmaceutical and medical device markets, as well as healthcare services in the Middle East and India. TVM Capital funds operate globally with dedicated Life Science venture capital funds advised by group members TVM Life Science Management in Montreal and TVM Capital in Munich, and its healthcare private equity fund managed by TVM Capital MENA out of Dubai. www.tvm-capital.com
For additional information, please contact:
Mr. Sang-Hoon Kim, President/CEO, Bukwang Pharm. Co. Ltd. 398-1, Daebang-dong, Dongjak-gu, Seoul 156-811, Korea, email@example.com, +82-2-828-8016
Dr. Hubert Birner, Managing Partner, TVM Life Science Management Inc. , 2 Place Alexis Nihon, Suite 902, 3500 Boulevard De Maisonneuve West, Westmount(Montreal), Canada, firstname.lastname@example.org, phone : + 1 514 928 53 69