Hai, a company specializing in digital treatments, announced on the 23rd that it has completed attracting 7.5 billion won worth of Series B investment involving Donghwa Pharmaceutical (000020).
The cumulative investment attraction amount so far is 11.5 billion won in two years since the Series A investment attraction in October 2020.
Existing investors KB Securities, KB Investment, Capstone Partners, and new investors CJ Investment and G&Partners participated in this round.
Donghwa Pharmaceutical will participate as a strategic investor and will have the right to negotiate first on the domestic sales rights of digital treatments under development, including Hi’s main product, “Anzeilax, a pan-anxiety disorder treatment.
The two companies will also discuss joint planning and development of new digital treatments and joint global expansion of domestic digital treatments.
An official from Donghwa Pharmaceutical said, “Digital treatments are expected to greatly help central nervous system (CNS) diseases that are difficult to treat only with drug treatment,” and added, “We expect to develop and commercialize leading CNS disease digital treatments through strategic investments.”
Kim Jin-woo, CEO of Hi, said, “I want to put great importance on the possibility of digital target therapy that Hi wants to pursue and the bold direction of global expansion,” adding, “In particular, attracting investment from Donghwa Pharmaceutical will double Hi’s growth speed in the future.”