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ckd-holdings.com

Founded Year

1941

Stage

IPO | IPO

Date of IPO

6/30/1976

About Chong Kun Dang Holdings

Chong Kun Dang Holdings (KRX: 001630) is a holding company with business activities in healthcare, real estate leasing, construction, transportation services, marketing, and IT. Its affiliates include CKD Pharm, CKD Bio, CKD Industry, Bell E&C, Bell Communications, and others.

Chong Kun Dang Holdings Headquarter Location

8, Chungjeong-ro, Seodaemun-gu

Seoul, 03742,

South Korea

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Latest Chong Kun Dang Holdings News

Biorchestra to develop RNA-based treatment for neurodegenerative diseases with $45M series C funding

Mar 1, 2022

March 1, 2022 Biorchestra Co. Ltd. has raised ₩54 billion ($45.1 million) in its latest series C fundraising, which will boost the development of the company’s lead RNA-based candidate for treating neurodegenerative diseases. "Proceeds from this financing will support the expansion of our research and development activities and product pipeline, completion of our GMP facility, and initiation of our nonclinical toxicology programs to file an IND in 2023 for BMD-001 , our leading clinical program in neurodegenerative diseases,” said Young-Gil Kim, chief financial officer at Biorchestra. BMD-001 is Daejeon, South Korea-based Biorchestra’s antisense oligonucleotide candidate for treating Alzheimer’s disease. It is encapsulated with a Brin polymer to cross the blood-brain barrier and treat neuroinflammation and neurodegeneration. Young-Gil Kim, CFO, Biorchestra “We received the necessary investment at the right time for large-scale clinical trials and will complete preclinical studies for BMD-001 with the series C funds. We will start clinical trials in the U.S. once the preclinical ones are completed, which will also be funded by the series C funds,” Kim told BioWorld. The financing was “significantly oversubscribed with high demand from both existing and new investors,” the company said. Dali Partners Inc., IMM Investment Corp., SBI Investment Co. Ltd., LSK Investment Inc., E&Venture Partners Inc., Smilegate Investment Inc., Quantum Ventures Korea Co. Ltd., Stic Investments Inc., Widwin Investment Co., and NH Investments & Securities Co. Ltd. participated in the series C as financial investors. GS holdings Corp., Chong Kun Dang Holdings Corp., and Chong Kun Dang Pharmaceutical Corp. were strategic investors. The latest fundraising comes after Biorchestra nabbed a partnership with SK Biopharmaceuticals Co. Ltd. to research and develop new microRNA compounds to treat epilepsy in January 2022. Under that agreement, Biorchestra will be responsible for target discovery, selection, and synthesis via its in-house technology. SK will then validate disease-modifying targets, as well as carry out preclinical studies. The duo will jointly own IP and licensing rights to any compounds discovered and developed through the collaboration. SK Biopharmaceuticals will seek to expand target indications with the compounds for various central nervous system diseases. Meanwhile, Biorchestra is also developing a treatment for Lou Gehrig’s disease, which is currently preclinical, but the company hopes to evaluate it in U.S. trials in the future. “We also discovered microRNA485-3p, which is overexpressed specifically in patients with degenerative brain diseases. The company is currently developing a test kit to both diagnose these patients and monitor the therapeutic effects of the drugs that are administered. Biorchestra is currently running a clinical trial with the aim of obtaining approval from the Ministry of Food and Drug Safety in the first half of 2023,” said Kim. A joint study with the University of Amsterdam research institute Amsterdam Neuroscience is also in progress, where Biorchestra hopes to verify whether microRNA485-3p is overexpressed in European patients with degenerative brain disease. The company plans to proceed with licensing in other regions such as the U.S. and Europe. Biorchestra also plans to commercialize diagnostic devices in collaboration with some of the South Korean companies that participated as strategic investors in the latest fundraising, said Kim. Previously, Biorchestra completed series A, B and bridge funding rounds. The series C round followed a ₩5 billion investment the company received from Chong Kun Dang Holdings in 2019 . The funding was carried out with several venture capital companies, including CKD Venture Capital Corp., Dayli Partners, NHN Investment Co. Ltd. and SBI Investment. Chong Kun Dang Holdings holds a majority stake in CKD Venture Capital. Now though, Biorchestra’s has its sights set on yet a bigger financing prize: an initial public offering on the Korean Stock Exchange. “In preparation for our IPO, we will adopt and stabilize internal control over financial reporting system and the international financial reporting standard,” said Kim. “Samsung Securities Co. Ltd. and NH Investments & Securities were selected as the organizers in 2021. We are currently preparing for the technical evaluation,” he added.

Aug 21, 2019
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  • When was Chong Kun Dang Holdings founded?

    Chong Kun Dang Holdings was founded in 1941.

  • Where is Chong Kun Dang Holdings's headquarters?

    Chong Kun Dang Holdings's headquarters is located at 8, Chungjeong-ro, Seodaemun-gu, Seoul.

  • What is Chong Kun Dang Holdings's latest funding round?

    Chong Kun Dang Holdings's latest funding round is IPO.

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