Korea Adds Another 'Unicorn' Start-up
11 December, 2019
Korean bio venture firm Aprogen has been listed by tech market news site CB Insights as a global "unicorn," meaning a privately held start-up valued at over US$1 billion.
Park Young-sun, the minister of SMEs and Start-ups, said Tuesday that Aprogen is the first Korean unicorn in the field of bioscience. Korea now has 11 unicorns on the list.
Aprogen developed a biosimilar to Remicade, which treats arthritis, Crohn's disease and other autoimmune disorders. The company is valued at $1.04 billion.
The U.S. has 210 unicorns, China 102, the U.K. 22, India 18 and Germany 11 like Korea.
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