(Photo=Osang Healthcare homepage)

 

[Alpha Biz=(Chicago) Reporter Kim Jisun] Osang Healthcare, a company specializing in in vitro diagnosis, announced on the 28th that it will invest in the US startup 'Kryptos Biotechnologies'.

Kryptos is a field molecular diagnostic device (POC-MDx) developer and was founded in Silicon Valley in 2017. Since its establishment, it has attracted about 12 million dollars (about 16 billion won) and has decided to attract Series A investment to raise funds ahead of clinical trials and licenses.

This time, Osang Healthcare will invest a total of $ 10 million (about 13.4 billion won) in equity. Half of the investment, or $5 million, was paid immediately, and the other half will be invested in phases as milestone is achieved.

On the other hand, based on this investment, Osang Healthcare and Kryptos will cooperate to develop respiratory infectious disease diagnosis products. The two companies aim to launch clinical trials in the U.S. and obtain approval from the U.S. Food and Drug Administration (FDA) sometime next year.

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