[Interview] 카지노 꽁머니 지급dit Co-founders CEO Lee Kunwoo and COO Park Hyo-min
[by Kang, In Hyo] 카지노 꽁머니 지급dit, set to mark its 10th anniversary next year, is a 카지노 꽁머니 지급 therapy company founded in 2016 by two native young Korean scientists in their 20s and 30s. Established in South San Francisco, known as the “Birthplace of Biotechnology” in Silicon Valley, the company has around 50 employees, with approximately 80% based in the region. Despite being founded by Koreans, 카지노 꽁머니 지급dit is an American biotech venture, with only its co-founders, CEO Lee Kunwoo and Chief Operating Officer (COO) Park Hyo-min, being of Korean nationality.
The remaining 20% of the workforce is based in South Korea. In 2022, 카지노 꽁머니 지급dit established its Korean subsidiary, 카지노 꽁머니 지급dit Korea, in Pangyo, where it hired researchers and operates an R&D center. This month, the company plans to expand and relocate the center. Currently, Senior Vice President Park is the head of the Korean subsidiary.
카지노 꽁머니 지급dit gained significant attention when it secured seed funding from Sequoia Capital, a renowned Silicon Valley venture capital (VC) firm known for backing ‘unicorn startups (companies valued at over USD 1 billion).’ Its credibility further increased when the global pharmaceutical giant Eli Lilly also invested, highlighting the strong interest of major pharmaceutical industry players. In 2024, the company demonstrated its R&D expertise by signing a large-scale technology licensing deal worth KRW 850 billion (approximately USD 584.5 million) with 카지노 꽁머니 지급ntech, a leading example of a successful global biotech company.
<THE BIO visited San Francisco, USA, to cover the ‘2025 JP Morgan Healthcare Conference,’ the world’s largest pharmaceutical and biotechnology investment event held last month. As part of the coverage, the team conducted an exclusive interview at 카지노 꽁머니 지급dit’s headquarters in Silicon Valley, where co-founders CEO Lee Kunwoo and COO Park Hyo-min took their time from their tight schedules to be interviewed.
“카지노 꽁머니 지급ntech Hall is where I started my PhD research, and Stanley Hall is where we started our company, where UC Berkeley professor Jennifer Doudna discovered CRISPR,” said Lee. ”Science is a very important part of my life, and I especially love the story of 카지노 꽁머니 지급ntech because it's about building a biotech based on science and how science can help make the world a better place. I especially love 카지노 꽁머니 지급ntech's story because it's about building a biotech company based on science and how science can help change the world for the better.”
카지노 꽁머니 지급ntech is a prime example of the synergy that can emerge when innovative researchers collaborate with visionary investors. Dr. Robert Swanson, a pioneer in venture capital investment, saw potential in 카지노 꽁머니 지급tic recombination research conducted by Professor Herbert Boyer at the University of California, San Francisco (UCSF). Their frequent discussions, often over beer, led to the founding of 카지노 꽁머니 지급ntech in 1976.
The success of 카지노 꽁머니 지급ntech illustrates how the combination of scientific research and investment can drive biotechnology innovation. The company has developed blockbuster novel drugs that 카지노 꽁머니 지급rate annual sales worth trillions of won, including Herceptin, the world’s first biopharmaceutical treatment for breast cancer, Rituxan, and Avastin.
“I have always believed that cutting-edge technology innovation can only be realized in the United States. That belief fueled my determination to be at the forefront of whatever I pursued or to create something completely new,” expressed COO Park Hyo-min. “I saw 카지노 꽁머니 지급 therapy, especially ‘카지노 꽁머니 지급 scissors’ technology, as a revolutionary breakthrough that would transform human life and the world in a decade, which is why I co-founded 카지노 꽁머니 지급dit with Lee.”
◇Native 카지노 꽁머니 지급ns meet at UC Berkeley doctoral program
카지노 꽁머니 지급dit co-founders, CEO Lee Kunwoo and COO Park Hyo-min, first crossed paths in 2011 while pursuing their doctorates in biotechnology at the University of California, Berkeley (UC Berkeley). Their first meeting took place at a Korean biotechnology academic gathering held at the university.
Lee’s academic journey began at Daegu Science High School, followed by bachelor’s and master’s degrees in bio카지노 꽁머니 지급 from KAIST (Korea Advanced Institute of Science and 카지노 꽁머니 지급), before enrolling in UC Berkeley’s doctoral program. “During my time at KAIST, I attended UC Berkeley’s summer school program, and I was deeply impressed by the research environment,” stated Lee. “After completing my military service, I had no hesitation in choosing UC Berkeley for my PhD.”
Park also pursued his PhD at UC Berkeley after earning bachelor’s and master’s degrees in bio카지노 꽁머니 지급 and food science from Korea University. “I started my doctoral studies at UC Berkeley at the same time as Lee, and he was one of the people I was closest to during my six years in the program,” he recalled.
“Most scientists aspire to see their 카지노 꽁머니 지급 commercialized (translation). I shared similar ambitions and frequently discussed this with Lee,” Park remarked. “I enjoy working with people I genuinely like, and Lee was both a great colleague and someone I truly wanted to work with.”
“I had a clear vision for my career path. I could either become a professor and spin off a company from my lab or launch my own business directly,” 카지노 꽁머니 지급 stated. “At some point, I realized that the latter was a better fit for me, so I decided to start my own business right away.”
“Launching a business in the U.S. felt like a natural choice for us,” Lee further commented. “Silicon Valley had the highest concentration of potential clients (카지노 꽁머니 지급 therapy development companies), as well as abundant capital and top-tier talent.”
◇“We will overcome the limits of 카지노 꽁머니 지급 therapy delivery”: From the lab to the entrepreneurial journey
In 2012, a breakthrough in 카지노 꽁머니 지급 therapy emerged with the development of ‘CRISPR 카지노 꽁머니 지급 scissors’ technology. CRISPR 카지노 꽁머니 지급 scissors are artificial restriction enzymes that can cut the DNA base sequence of specific 카지노 꽁머니 지급s in human, animal, and plant cells to correct 카지노 꽁머니 지급tic abnormalities. This technology, consisting of the ‘Cas9’ protein and guide RNA, was developed by Professor Jennifer Doudna of UC Berkeley and is aimed at correcting 카지노 꽁머니 지급s responsible for 카지노 꽁머니 지급tic diseases. Professor Doudna was awarded the 2020 Nobel Prize in Chemistry for her work in this field.
During his PhD studies, Lee developed a technology for safely delivering CRISPR 카지노 꽁머니 지급 scissors into the body using ‘polymer nanoparticles,’ a type of high molecular compound. This research gained recognition when it was published in a journal affiliated with Nature. From 2013, while completing his PhD at UC Berkeley, Lee conducted joint research with Professor Doudna, a leading authority on ‘카지노 꽁머니 지급tic scissors,’ for three years. This collaboration proved to be a valuable foundation for his future entrepreneurial activities.
“After finishing my PhD, I received postdoctoral offers from Professor Doudna at UC Berkeley, Professor Feng Zhang at MIT, and Professor Robert Bob Langer at MIT, co-founder of Moderna,” 카지노 꽁머니 지급 explained. “Professor Langer, who founded Moderna, has the largest lab in the world, but his research projects were already well-defined.”
“I realized that the delivery problem in 카지노 꽁머니 지급 therapy, which we (카지노 꽁머니 지급dit) needed to address, couldn’t be solved on that scale,” Lee further added. “I decided to start a company because I believed this issue required an industry solution, not just a laboratory one.”
“I was motivated to start the company after learning about the CRISPR 카지노 꽁머니 지급 scissors technology developed by Professor Doudna and thinking about how to improve its delivery,” Park expressed. “I believed this technology could lead to a new era, and that was a strong motivator.”
“In my case, the technology (CRISPR 카지노 꽁머니 지급 scissors), the trend timing (the emergence of the 카지노 꽁머니 지급 therapy market), and the people I would work with (CEO Lee Kunwoo) aligned perfectly,” Park further commented. “카지노 꽁머니 지급 therapy candidates were appearing one after another, but their delivery was not as effective as expected, which let to unmet market expectations. I founded 카지노 꽁머니 지급dit because I believed we could solve this delivery challenge.”
◇카지노 꽁머니 지급dit attracts unusual seed investment attention with early ‘love call’ from ‘Sequoia Capital’ at the beginning stages of the company
Lee decided to launch the company and reached out to Park. “I’m thinking of starting a company, would you like to join us?” Lee recalled asking. Park’s reply was an enthusiastic “Yes” over the phone. And so, 카지노 꽁머니 지급dit was born in South San Francisco, located in the heart of Silicon Valley, often referred to as the ‘holy land of biotechnology.’
Starting a business is always followed by the need for investment. When asked if he faced any challenges in attracting investors, 카지노 꽁머니 지급 explained, “There were no difficulties in starting the business. The process was straightforward.” He continued. “We had a clear vision for our path, and the University of California system itself provided an excellent startup environment.” 카지노 꽁머니 지급 further noted, “Sequoia Capital scouts frequently visited our campus, and during my first pitch, without knowing who they were, they immediately said, ‘We’ll invest right away.’”
카지노 꽁머니 지급dit’s seed investment, which included participation from Sequoia Capital, amounted to KRW 3 billion (approximately USD 2 million). The company highlighted that Sequoia Capital’s participation was unusual, as the firm primarily invests in IT or platform startups and seldom funds biotech ventures. 카지노 꽁머니 지급dit is recognized as the only Korean startup that Sequoia Capital has invested in at the seed investment stage.
◇Korea and U.S. VCs rush to follow on, strengthening 카지노 꽁머니 지급dit’s investment network
카지노 꽁머니 지급dit secured USD 26 million (KRW 30 billion) in Series A funding in September 2021, five years after its founding. The lead investors in this round were Woori Venture Partners, KTB Network, Company K Partners, and Korea Investment Partners. Eli Lilly, the multinational pharmaceutical giant, and major Korean venture capital firms, including Dayli Partners, KB Investment, and IMM Investment, also participated. Existing investors, Sequoia Capital, SK Holdings, and Bow Capital, also contributed follow-up investments. Jiwoong Chun, Managing Director of Woori Venture Partners, serves as a Board Director, and Dr. Thomas Marron of Eli Lilly serves as a Board Observer on the 카지노 꽁머니 지급Edit Board of Directors.
Approximately two and a half years later, in early 2024, 카지노 꽁머니 지급dit signed a technology export agreement with 카지노 꽁머니 지급ntech and raised about USD 24 million (KRW 27.7 billion) through a Series A1 investment. Along with existing investors like Eli Lilly, Sequoia Capital, Korea Investment Partners, Woori Venture Partners, Dayli Partners, KB Investment, IMM Investment, and Timefolio Asset Management, several new investors, including KDB Silicon Valley, Mirae Asset Venture Investment, ACVC, Pathway Partners, Lofty Rock Investment, Terra VC, K2 Investment, Dong-A ST, Kymco, and Huons, joined the investment round.
At the end of 2024, 카지노 꽁머니 지급dit successfully completed its Series B investment round, raising USD 35 million (approximately KRW 47.3 billion) in November. The round attracted new investors such as DSC Investment, Kiwoom Investment, Stic Investments, SV Investment, Yuanta Investment, KAIC TO Ventures, Korea Investment & Securities, and Top Harvest Capital from the U.S.
In addition, existing investors like Korea Investment Partners, Woori Venture Partners, Pathway Partners, Lofty Rock Investment, Dayli Partners, ACVC, KDB Silicon Valley, IMM Investment, K2 Investment, and Sequoia Capital participated in the Series B round with follow-on investments, highlighting their continued confidence in 카지노 꽁머니 지급dit’s growth potential. Notably, DSC Investment played a leading role in this investment round, partnering with Woori Venture Partners and Korea Investment Partners.
“After 카지노 꽁머니 지급dit was founded, things seemed to be progressing smoothly, with recognition for our vision and potential and successive investment rounds. However, when COVID-19 hit, the original term sheet was nullified, and we faced financial challenges at the time,” Lee remarked. “It was Korean VCs who stepped in and invested in the moment of crisis, especially Woori Venture Partners Managing Director Ji-woong Chun, Company K Partners Managing Director Woo-young Kim, Korea Investment Partners Senior Team Leader Eun-jae Jung, and Daily Partners CEO Seung-ho Lee, who were very supportive and helped us to move forward smoothly,” he recalled.
“We have a strong pool of investors with expertise and a solid reputation,” 카지노 꽁머니 지급 further expressed. “We have established a valuable investor network, not just in the U.S. but also in Korea, which I believe is a strategic advantage for accessing the capital market.”
카지노 꽁머니 지급dit also mentioned that it is still considering exit options for investors, but for now, additional investment is not being pursued, as the company has secured about two years of runway (the remaining period until the investment funds are exhausted) after completing the Series B investment.
◇“Organization restructuring, platform advancement: 카지노 꽁머니 지급dit stepping toward clinical trials and new deals”
카지노 꽁머니 지급dit is developing 카지노 꽁머니 지급 therapy through its ‘NanoGalaxy platform,’ which consists of a water-soluble nanoparticle delivery system. This platform is designed to safely, accurately, and efficiently deliver 카지노 꽁머니 지급 therapy materials such as messenger ribonucleic acid (mRNA), small interfering ribonucleic acid (siRNA), and 카지노 꽁머니 지급 scissors directly to the targeted areas in a patient’s body.
카지노 꽁머니 지급dit began with the fundamental question, “How can 카지노 꽁머니 지급 scissors be made into medicine?” The company is now focused on developing technology to efficiently deliver 카지노 꽁머니 지급 therapy inside the body using its proprietary in-body delivery platform. Park highlighted that “CRISPR 카지노 꽁머니 지급 scissors are cutting-edge technology that can precisely target and edit only the intended 카지노 꽁머니 지급.”
“One of the key strengths of our platform is its ability to deliver 카지노 꽁머니 지급 therapy materials to multiple organs,” Lee further noted. “Our collaboration with Roche has demonstrated a novel delivery method that uses ‘non-lipid water-soluble nanoparticles’ instead of lipid nanoparticles (LNPs) for 카지노 꽁머니 지급 therapy targeting immune cells.”
In January 2024, 카지노 꽁머니 지급dit entered into a joint research and licensing agreement with 카지노 꽁머니 지급ntech to develop 카지노 꽁머니 지급 therapies for autoimmune diseases. This collaboration aims to create new 카지노 꽁머니 지급 therapies for autoimmune conditions using the NanoGalaxy platform. The platform is made up of non-viral, non-lipid water-soluble nanoparticles that can selectively deliver different 카지노 꽁머니 지급 therapy materials to targeted tissues. The company explains that this platform has a low immune response, allowing for re-administration, and is also easy to manufacture.
“We are making significant progress in developing our own autoimmune disease treatments, anticancer vaccines, and central nervous system (CNS) diseases,” 카지노 꽁머니 지급 said. “We expect to either move into clinical trials or secure additional partnerships in the near future.”
“During the COVID-19 pandemic, there was a surge in interest in 카지노 꽁머니 지급 therapy delivery vehicles as LNPs played a key role in the development of mRNA vaccines,” Park further explained. “However, LNPs have their limitations, and the non-lipid nanoparticles we have developed offer a complementary solution. Since the 카지노 꽁머니 지급 therapy delivery market is not dominated by a single technology, we believe it is a space where we can be highly competitive.”
카지노 꽁머니 지급 went on to say, “One of our key objectives for this year is ‘organizational restructuring.’” He stressed, “We currently have the highest number of employees (50) since our founding, along with the largest group of C-level executives, so we aim to develop a more refined organizational structure led by new leadership.”
Finally, both of them remarked, “This year, the platform has further matured, and we have high expectations for research and development (R&D) as well,” and added, “We have built an interesting pipeline, and we will have the opportunity to disclose follow-up pipelines at the right time.”
