S Korea’s Mirae Asset Venture co-leads $18m funding in KAHR Medical

biopharmaceuticals. Credit: Flickr/Laurence Livermore

South Korea’s Mirae Asset Venture Investment has co-led an $18 million investment in KAHR Medical Ltd., an Israeli biopharmaceutical company that claims to be developing a novel drug platform based on bi-functional, immunotherapeutic fusion proteins, according to an announcement.

Other investors including Flerie Invest AB, Oriella Limited, Hadasit Bio-Holdings (HBL), and Temasek-backed Pavilion Capital participated in the round.

KAHR Medical said that the funds raised will be used for advancing the company’s next-generation immuno-oncology drug candidates, including lead anti-CD47 product for the treatment of solid tumors through Phase I/II study in addition to advancing preclinical pipeline.

“We are excited to lead this financing round for KAHR Medical together with other distinguished investors,” said Thomas Eldered, Chairman of Flerie Invest AB.

“Despite advances in the treatment of cancer, there is still a clear need for additional therapies to broaden the patient population that will respond to cancer immunotherapies. We look forward to supporting KAHR Medical in developing effective treatments for cancer patients,” he added.

Meanwhile, Timothy Low, Head of Healthcare Investments, Pavilion Capital, said that the company has a tremendous opportunity to contribute new targeted therapies in the field of immuno-oncology.

KAHR Medical develops the next generation of immuno-oncology drug candidates for the treatment of multiple types of cancer. Its proprietary technology enables the construction of targeted bi-functional biological drugs generated by fusion of the active extracellular domains of a TNF-SF ligand and a type-I membrane protein.

Mirae Asset Venture Investment operates as a venture capital firm. It invests in companies that have the potential to lead the Fourth Industrial Revolution, including biotechnology, ICT, game, and semiconductor, as well as increases areas of investment, including eco-friendly foods, renewable energy, education, entertainment, and leisure.

The South Korea-based venture capital firm recently backed Hummingbird Bioscience along with GNTech Venture Capital.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.