DRADS Capital Leads Series C Round for ROKIT Healthcare

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Jul. 10, 2020 10:00

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SEOUL--(Korea Newswire)--DRADS Capital announced its investment in ROKIT Healthcare Inc., a South Korean biotechnology company developing innovative 4D bioprinting techniques and applications, in its Series C funding round of undisclosed amount.

Founded in 2018, DRADS Capital is a Boston-based venture capital fund which specializes in making strategic investments in life sciences, biotechnology and artificial intelligence (AI). One of its notable founders is Dr. Rudolph E. Tanzi, who is the Joseph P. and Rose F. Kennedy Professor of Neurology at Harvard University, Vice-Chair of Neurology and Director of the Genetics and Aging Research Unit at Massachusetts General Hospital (MGH). He was also named to TIME magazine’s list of TIME 100 Most Influential People in the World in 2015.

Nagarajan Pillay, founding Managing Director of DRADS Capital and former Senior Vice President of Pepsi Bottling Franchise, commented on the investment, “We stand behind ROKIT’s fundamental belief that ‘aging is disease’ and their aim to change the world with customized organ regeneration platforms. As the lead investor in ROKIT’s Series C funding round, we believe that ROKIT’s novel organ regeneration technology will dramatically improve clinical therapeutics in the field of wound healing. Their recently published paper in the Diabetes Journal shows how their 4D bioprinter ‘Dr. INVIVO’ — the world’s first sterile, all-in-one 4D organ regenerator — is used to regenerate skin as a treatment for diabetic foot ulcers, negating the need for amputation and skin grafting. It is without a doubt that ROKIT Healthcare Inc. will make great strides under the leadership of Chairman Seokhwan You in the era of organ regeneration.” Dr. Tanzi also expressed his excitement about ROKIT, stating “We are thrilled and honored to be aligned with ROKIT Healthcare and the tremendous promise of their regenerative bioprinting technologies.”

Chairman You, the founder and CEO of ROKIT Healthcare Inc., stated: “ROKIT introduces a cutting-edge organ regeneration platform based on 4D printing and clinical diagnosis technology for age-related diseases, such as rheumatoid arthritis and Alzheimer’s disease, to the global anti-aging market.” Chairman You, who is also the former CEO of Celltrion Healthcare, a South Korean biopharmaceutical company valued at $14 billion today, added: “With our extensive experiences in the biomedical industry, ROKIT Healthcare will make every effort to continue growing as an innovative global company by expanding its business domain ranging from personalized organ regeneration to anti-aging markets. This will be headed by our revolutionary Diabetic Foot Ulcer Platform, DFURegen, which will combat this incurable disease with a global market share of about USD 40 billion.”

The company plans to go public in 2021.

Website: http://rokithealthcare.com