MedWatch

Contera raises USD 29 million from South Korean investors, expands in Denmark

After raising around KRW 35.2 billion from its two South Korean owners, Danish firm Contera Pharma is already looking to recruit managerial staff for its research department in Denmark and work toward its goal of being listed in South Korea.

After a fresh capital injection, Contera keeps moving toward its goal of being listed in South Korea. | Foto: Bioinnovation Institute / PR

Contera Pharma has just received fresh financing for its plans to go public on South Korean stock exchange KOSDAQ.

Bukwang Pharmaceuticals and Medici Investment, the two South Korean investors and owners of the Danish biotech firm, have during the company's second financing round injected an entire KRW 51 billion (USD 42.5 million) into Contera – the KRW 35.2 billion constitute a direct capital injection through issuing new shares.

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