Shown above is Haim Bio CEO Kim Hong-yeoul. The bio start-up said that U.S.-based investor A&P Partners had agreed to channel $20 million to set up a joint venture so that they would work on research of the novel coronavirus. Photo courtesy of Haim Bio

US investor and Haim to build joint venture in Virginia

Korean start-up Haim Bio said on Nov. 12 that the Seoul-based outfit had attracted $20 million investment from A&P Partners in the United States.

Haim Bio said that the two outfits would establish a joint venture, dubbed Elysium Cell Bio USA, in Virginia and its subsidiaries in Korea and Italy.

A&P Partners contacted Haim Bio to make the proposal after checking the latter’s announcement in an illustrious peer-reviewed journal midway through this year.

Over recent years, Haim Bio CEO Kim Hong-yeoul, Massimo Zollo from Italy’s CEINGE Institute, and Korea’s Yonsei University researchers led research about inorganic polyphosphates.

They found that the substances can inhibit infection and replication of the novel coronavirus and published the discovery as the front cover of Science Signaling in July.

“A&P made a proposal that it will financially support in a proactive way after the Science Signaling paper was published,” Haim Bio CEO Kim said.

“At a new head office in Seoul, we will carry out joint research with Yonsei University team and Italian scientists.”

Kim expected that the joint team would come up with vaccines and treatments next year based on clinical tests both in Asia and Europe.

Haim Bio said that the two affiliates of Elysium Cell Bio would be set up this month in South Korea and Italy, respectively.

The publisher studied Korean history in Seoul and management of business administration in the United Kingdom. He has 20-year experiences in the media business. Kim can be reached at voc200@gmail.com or 82-2-6956-6698.