Title: News Tomato– Tips of VC on successful Bio-venture investment

Publication: News Tomato

Date: 21 February 2012

Summary

• LeogChem Bioscience passed the technology evaluation for KOSDAQ IPO last year, is expected to be publicly listed in stock market this year. The company was founded by researchers from LG Life Science.

• KB Investment Jung Sup Shin, with other venture capitals, has invested total of $120 million in 3 times since 2007.

• He said “generally one or two people start their own company after quitting a large company but LegoChem was founded by 5 professional researchers who already had knowledge about existing technologies.”

• LeogChem possesses drug constructing and drug thinning technologies as its core competences.

• Even though other global pharmaceutical companies have the similar technologies, LegoChem became successful because it decided to focus on what LegoChem can do better than others. .

• Jung Sup Shin also explained “Bio-ventures are difficult to acquire funds because they do not have any sales revenue so loss continues for years, in other words, the negative “numbers” could seem problematic. The most important factor of successful investment on bio-ventures is whether the companies achieve their milestone, or developmental progress of the products, or not.

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About LegoChem Biosciences

LegoChem Biosciences, Inc. (LCB) is a research-based biotechnology company dedicated to discovering, developing, and commercializing innovative medicines by leveraging our chemistry expertise to make conventional biologics targeted and more potent for the benefit of patients with diseases of high unmet medical needs. We are advancing sustainable pipelines in therapeutic areas in antibiotics, anti-coagulants, oncology, antibody-drug conjugate (ADC), and protein-drug conjugate (PDC).