K-Bio & Vaccine Fund raises 200 billion won in new capital, bringing cumulative total to 779.6 billion won; Ministry of Health and Welfare targets 1 trillion won mega-fund by 2027

The Ministry of Health and Welfare announced Wednesday that it has selected Premier Partners Co. as the lead manager of K-Bio & Vaccine Fund No. 7.

The ministry conducted a public solicitation for the fund manager from March 23 to May 6 through Korea Venture Investment Corp., selecting the lead manager after a first-round document review, an on-site inspection and a second-round presentation evaluation.

Premier Partners set a fundraising target of 200 billion won, exceeding the originally announced goal of 100 billion won. The fund may begin investing through an early close once it raises at least 70 billion won, equal to 70 percent of the original 100 billion won target.

If the No. 7 fund successfully reaches its 200 billion won target, the cumulative amount raised under the K-Bio & Vaccine Fund program will reach 779.6 billion won.

[Ministry of Health and Welfare]
[Ministry of Health and Welfare]

The ministry also plans to complete the selection of a lead manager for a 150 billion won "Phase 3 Trial Specialized Fund" by July and finish raising the fund by year's end.

The K-Bio & Vaccine Fund program has raised a cumulative 579.6 billion won across funds No. 1 through 6 since 2023, deploying 246.3 billion won across 52 companies. The program has helped three companies with innovative technologies achieve new stock market listings.

Jeong Eun-young, director general of the Health Industry Policy Bureau at the Ministry of Health and Welfare, said the No. 7 fund's successful formation would boost investment in biotech firms and small and midsize companies with innovative technologies, supporting the development of new drugs and platform technologies, and that the ministry would push ahead without delay toward its goal of building a 1 trillion won mega-fund by 2027.


thlee@heraldcorp.com