RudaCure, a company specializing in developing treatments for eye diseases and chronic pain, has been selected as a 'Baby Unicorn' representing Korea in the bio sector, recognized for the innovativeness and growth potential of its technology. With this selection, RudaCure has achieved a double crown as a nationally representative promising startup company following its 'BIG3' program selection in 2020.
RudaCure Inc. (CEO Yongho Kim) announced that it has been finally selected for the '2024 Global Unicorn Project' supported by the Ministry of SMEs and Startups, enabling the company to receive full-scale growth support as a 'Baby Unicorn' company for one year.
The 'Global Unicorn Project' is a national representative startup support policy to revitalize Korea's startup ecosystem and nurture globally competitive unicorn companies. Selected companies receive specialized support for global market entry, strategic investment attraction, and sustainable growth capabilities.
RudaCure was recognized for the innovative potential of its proprietary TRPV1 (Transient Receptor Potential Vanilloid 1) ion channel modulation-based drug development technology, along with its achievements in attracting Series A/B investments totaling over KRW 16 billion and technology transfer contracts exceeding KRW 70 billion.
CEO Yongho Kim stated, "Being selected for the Global Unicorn Project is meaningful recognition of RudaCure's growth potential and innovative technology. We will leverage this opportunity to accelerate our IPO preparations and strengthen our global market position."