[THE INVESTOR] Korean 3D bio-printer maker Rokit has secured 11 billion won (US$9.89 million) in funding from KB Investment, Korea Development Bank and DAYLI Partners, according to sources on Jan.31.
The three investors have reportedly bought around 1.05 million won worth of redeemable convertible preference shares. KB Investment and KDB have invested around 3 billion won each, while DAYLI Partners bought shares worth 5 billion won.
According to sources, the investors decided to fund Rokit based on its technology and potential for growth. The company plans to use the funds mainly for research and development.
Rokit CEO You Seok-hwan, who previously served as CEO of leading Korean biosimilar firm Celltrion Healthcare, established the biotechnology company in 2012.
The firm has developed 3D bio-printer Invivo, which is currently undergoing clinical trials in both Korea and the US. Ultimately, it hopes to use it to provide customized services by printing out organs using a patient’s cells.
Meanwhile, Rokit is also pursuing an initial public offering, including applying under the special standards of the bourse operator. The company had picked Mirae Asset Daewoo as its IPO manager last year.
By Song Seung-hyun (email@example.com)