New York, NY and Seoul, South Korea – March 7, 2019
Milu Labs secures seed financing from top healthcare investor in Asia
Milu Labs, an innovative medical diagnostics company, announced today the completion of its first institutional financing. The funding was led by Magna Investment, one of South Korea’s top healthcare venture capital funds.
The investment will be used to support the clinical development of its technology pipeline in China and across Asia. Milu Labs is building a global company of international experts to focus on the use of A.I., exosomes, and other sophisticated technology platforms to detect the most pressing health conditions.
Dr. Daniel Chai, co-founder and CEO Americas, commented on the financing by stating the following: 'We are very happy to have received support from one of the leading healthcare investors in South Korea and throughout Asia.' Matthew G. Badalucco, co-founder and CFO, added: 'This financing will help us commence clinical development of exciting technologies that can help millions of patients.'
Keele Park, CEO of Magna Investment, states 'We are extremely happy and excited that we are investing in a company with many provocative bio-technologies, which will be delivering them to the largest patient population in the world.'
Henry Park, Partner of Turret Capital, which participated in the round, declares 'The Milu team has tirelessly worked to bring together world class diagnostics services under one umbrella. We are grateful to be an investor and enthusiastic to work with them to see them succeed.'
About Milu Labs
Milu Labs is a global diagnostics company that builds, researches, and markets cutting-edge technologies to screen and detect major health conditions. The company focuses exclusively on the best technologies, from those in early-development to those that are already commercialized. Milu Labs is collaborating with global academic institutions and top American healthcare companies to develop the most exciting diagnostic technologies.