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Korea Companies to invest 12m USD in Israeli innovation

Korea Companies to invest 12m USD in Israeli innovation

South Korean Yozma Group Asia and group BioLeaders Corporation announced they will invest roughly 12 million USD in Israeli anti-cancer technology based on technology developed at the Weizmann institute of Science, the Institute reported.

Yozma Group Asia will invest 2 million USD in On-Sight Medical Inc., which is currently developing an easy-to-use ultrasound technology that patients may use on their own and analyze the results. Once in service, the technology will solve the deficit in the numbers of trained technicians as well as help ease the workload in hospitals.

Another company to receive investments from Korea is BioLeaders, which is currently developing an anti-cancer drug.

The cancer therapy will be founded on the discovery by Israeli scientists that the p53 protein is disabled in roughly two thirds of cancer types.