Green Cross Group is reeling in bio venture investment. In addition to the development of new drugs and pharmaceuticals, which are the core businesses of the Group, we are also seeing artificial intelligence (AI) as a new growth engine. It is also aiming for profitability through open innovation and bio venture investment.

According to the venture capital and biotechnology industry, Green Cross Holdings, a holding company of Green Cross, invested 5 billion won in artificial intelligence (AI) healthcare company Vuno. GC has invested 17 billion won in four bio-ventures this year, including Vuno.

An official of the venture capital industry said, “Green Cross Holdings is actively engaged in bio venture investment,” he said. “It is not just about investing, but some portfolios lead the investment.”

Vuno is developing various AI diagnosis solutions based on its proprietary Deep Learning Engine ‘VUNONET’. ‘Vunomed Bone Age’, which reads the bone age, was granted a second grade medical device from the Food and Drug Administration.

Earlier, the company also invested 2 billion won in Do AI, an AI start-up, to secure a 13.9 percent stake. Do AI is a start-up in the medical field AI algorithm development that was established in March of this year. Professor Synho Do is a director of medical image research and a professor of radiology at Harvard Medical School.

Medical devices that combine AI are the keywords that pharmaceutical companies use as a new food source. Recently, Dongkuk Life Sciences, a subsidiary of Dongkuk Pharmaceutical, has signed a contract to distribute and supply medical devices to the Lunit. The possibility of business synergies will also emerge through the GC, Vuno and Do AI.

New drug development centers, which are traditional business areas, are also being actively explored. Invested 5.5 billion Won in Canadian bioventure Feldan Therapeutics. Feldon Therapeutics has a “Feldan Shuttle” technology that delivers proteins and genes into cells. GC affiliate Green Cross Lab Cell is partnering with Feldon Therapeutics to develop the NK cell therapy drug ‘MG4101’. In addition, the company has invested 4.5 billion Won in GenoPlan, a gene analysis company.

GC has been exploring biotechnology companies through Green Cross venture investment, a self-founding investment company, even in the early 2000s. After absorbing the Green Cross venture investment in 2005, he is in charge of venture investment in his own division. In recent years, new bio venture investments have become more active. Last year, we invested in Cypherom, Thunder Biotech and Carelabs. We also invested in a private equity fund (PEF) as a limited liability investor (LP).

“As a part of long-term growth, AI is very interested in investing in synergies in the healthcare field,” said a GC official. “We are also looking to strengthen our capabilities through venture capital investments.”