WooGene Bio, a subsidiary of Woojin B&G, announced on Monday that it has attracted $8.86B USD (1 billion won) in investment from a very good technology financial fund.
The decision was made after two months of due diligence and investment audit committee. WooGene Bio’s technology and company value were estimated at $177 B USD (20 billion KRW). Some institutions have already carried out the hearing and are showing positive responses, explaining that they are receiving attention from professional investment management and VCs.
WooGene Bio is a new company that was divided at the end of last year in order to increase professionalism and competitiveness of businesses that specialize in vaccines. He entered the animal vaccine market by releasing PED-M, a vaccine for swine flu, and conducted joint research and development of MERS vaccine targeting people with the Ministry of Health and Welfare.
“We recently succeeded in entering CMO(Contract Manufacturing Organization) markets and expanding our new sales locations. We have factories that can produce 150 million dose of vaccine per year and are receiving requests from variety of biotech companies for production.”
Representative of Woo Gene Bio