Mirae Asset invests $750 mm in Accent Therapeutics

[Courtesy of Mirae Asset Capital Life Science, Accent Therapeutics]

Mirae Asset Capital Life Science Co, a venture capital firm founded by the chairman of Mirae Asset Group, recently injected 100 billion won ($750 million) in U.S. biopharmaceutical company Accent Therapeutics, Inc. in a Series C financing round to advance small molecule precision cancer therapies.

Mirae Asset Capital Life Science is a U.S.-based venture capital firm that funds prominent pharmaceutical and biotech startups. The firm recently launched and completed a staggering fundraising of $500 million.

With its latest investment in Accent Therapeutics, Mirae Asset Capital Life Science plans more investments in global biotech firms that develop novel medicines in five areas, including oncology, immunology, and metabolism.

The investments are part of a long-term roadmap suggested by Mirae Asset Group Park Hyeon-joo, who promised to invest a total of 10 trillion won in healthcare and biopharmaceutical sectors over a ten-year period in 2016.