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Astrogen was selected as a “Baby Unicorn”

According to Yonhap News,

Astrogen, a bio-medical company headquartered in Daegu Gyeongbuk Medical Innovation Cluster (Daegu Medical Cluster for short), placed its name on the list of so called “Baby Unicorn”, which refers to as a startup, highly expected to have full potential to be part of Unicorns, companies with a value over USD 1 billion.

Daegu Gyeongbuk Medical Innovation Foundation announced the 40 selectees to be the baby unicorns on Jun 26.

Astrogen, founded in 2017, has long been developing new medicines effective for neurological diseases such as autism spectrum disorder and Alzheimer's disease. Being the candidates for the baby unicorns enables the pharmaceutical company to receive cash grants and other forms of startup funds up to KRW 15.9 billion.

Head of Astrogen said “We are fully aware that life-threatening neurodegenerative diseases give a profound impact and pain to both patients and family members. To relieve such pain, we’ll keep working on developing innovations.”

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Source: Yonhap News (Jun 26 , 2020)

** This article was translated from Korean.