Darae's insight pays off — pain drug developer RudaCure selected for
Seoul-type private investment-linked technology commercialization support program
RudaCure Inc. (CEO Yongho Kim), a company specializing in developing treatments for sensory disorders, recommended by Seoul-type TIPS operator Darae Strategic Commercialization Center Co., Ltd. (CEOs Bae Sun-gu and Kim Jeong-guk), was announced on the 30th as having been selected for the Seoul-type Private Investment-linked Technology Commercialization Support Program (Seoul-type TIPS).
The Seoul-type Private Investment-linked Technology Commercialization Support Program is a program in which Seoul Metropolitan City and the Seoul Business Agency (sba) leverage the startup discovery and investment capabilities of private operators to support promising technology startup companies. Through this selection, RudaCure has secured up to KRW 400 million in R&D funding over two years.
RudaCure plans to use the secured R&D funding to advance the development stage of its non-narcotic chronic pain treatment pipeline.
Bae Sun-gu, CEO of Darae Strategic Commercialization Center—RudaCure's investor and Seoul-type TIPS operator—said, "We recommended RudaCure based on a high evaluation of the technological innovativeness of its drug development for sensory disorder diseases," and added, "As a Seoul-type TIPS operator, we will more actively expand the infrastructure to match and support R&D funding without equity dilution for promising startups."
RudaCure CEO Yongho Kim stated, "Building on this Seoul-type TIPS selection, we will focus on increasing company value by strengthening our non-narcotic chronic pain treatment alongside our main pipeline, the dry eye disease treatment ROC001."
Meanwhile, Darae Strategic Commercialization Center is active as both a Ministry of SMEs and Startups TIPS operator and a Seoul-type TIPS operator, and plans to continuously expand strategic support for portfolio companies with excellent technology.
전자신문: https://www.etnews.com/20231103000235