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KOTEC to Invest KRW 1 Bln in Ulsan's Recens Medical

According to Yonhap News,

(BUSAN=Yonhap) Korea Technology Finance Corporation (KOTEC) announced December 18 that it wil be investing KRW 1 billion a bio company based in the Ulsan National Institute of Science and Technology (UNIST).

As the first project by KOTEC's 'U-TECH Valley' support platform, built in January, for comericalizing outstanging tecnologies at universitires and research centers.

The company that will be receiving the investment is Recens Medical, a company led by professor Kim Gun-Ho of UNIST's School of Mechanical, Aerospace and Nuclear Engineering.

Recens has developed a medical deivce that uses low temperatures to anesthetize small areas.

KOTEC decided to invest in the comapny as it is preparing to enter the U.S. medical market.

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Source Text

Source: Yonhap News (Dec. 18, 2017)

** This article was translated from the Korean.