A biotech firm that moved its headquarters from New York to Cincinnati in late 2021 has announced its first major collaboration
A biotech firm that moved its headquarters from New York to Cincinnati in late 2021 has announced its first major collaboration since planting roots in the Queen City, and officials said the deal will help fuel faster international growth.
Orange Grove Bio, a preclinical drug investment and development firm based at University of Cincinnati’s 1819 Innovation Hub, announced a new partnership Tuesday with SV Investment, a Seoul, Korea-based venture capital and private equity firm. The companies said the partnership will allow them to collaborate on jointly sourcing and developing new therapeutics in the U.S. and East Asia.
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IF HENRY FORD WERE IN BIOTECH
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Leading Korean VC partners with USA’s Orange Grove
Orange Grove Bio, a USA-based pre-clinical drug investment and development firm, and SV Investment, a South Korea-based venture capital and private equity firm, today announced the establishment of a new partnership through which the companies will collaborate on jointly sourcing and developing novel therapeutics in the USA and Korea. As priority partners, the companies will cultivate the US and Korean biotech landscape through technology licensing and company creation in their respective geographic areas. Under terms of the partnership, SV Investment will leverage its relationships with biotech companies and academic institutions in Korea to identify licensing opportunities for promising early-stage research in the area of drug development. As part of the agreement, Marc Appel, chief executive of Orange Grove, will join SV Investment as a venture partner and will play a key role in evaluating the licensing opportunities that are identified at Korean biotech companies and universities. As appropriate, Orange Grove will work to license these technologies as a basis for life science company creation in the USA, with SV Investment serving as an early-stage investor in the companies.
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The University of Pittsburgh and Orange Grove Bio Establish Partnership …
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