Korea’s BioLeaders To Invest $10 Million in Israel’s Weizmann Institute Anti-Cancer Therapy
CTech – Yongin, South Korea-headquartered biomedical company Bioleaders is looking to Israeli research institute the Weizmann Institute of Science for anti-cancer technology. BioLeaders has agreed to commit $10 million towards a company being spun off of Yeda Research and Development, Weizmann’s technology transfer arm, the institute announced Tuesday.
The spinoff, which will be jointly held by Yeda and BioLeaders, will develop a drug based on research from the institute’s molecular cell biology department.
The company expects to establish operations and recruit staff to its headquarters in the Kiryat Weizmann Science Park in Ness Ziona, near the Weizmann Institute of Science, Weizmann said.
Founded in 2000, BioLeaders is listed on the Korea Exchange and reported revenues of KRW 7.6 billion ($6.7 million) in 2017. This is BioLeader’s first investment in Israel.