South Korea's Green Cross Holdings and POSCO Capital joined to buy a $7.5 million stake in U.S.-based Juventas Therapeutics, pushing a regenerative and biologics growth strategy that has seen recent deals in China and Russia.
That deal was part of an overall investment package that included Oxford Finance's separate $6 million and another $9 million in milestone payments.
The size of the stake each investment bought was not disclosed.
With the investments, Juventas said it would be able to carry its JVS-100 noninvasive gene therapy through clinical trials for treating chronic heart failure and peripheral artery disease.
Just two weeks earlier, Green Cross announced another regenerative-medicine investment abroad: a production plant in China to develop advanced cell and gene therapies. The company said both were part of an overall plan to expand its global presence in the field.
- here's the Juventas release
- get more from the Korea Times