Lotte Holdings Co. has announced the establishment of a new Healthcare and Biopharmaceutical Corporate Venture Capital (CVC) dedicated to investing in biopharmaceuticals and next-generation modalities.

Expanding its business across various fields, South Korea and Japan-based Lotte Group entered the healthcare and biopharmaceutical sector in 2022 by establishing Lotte Biologics, a Contract Development and Manufacturing Organization (CDMO).

To further strengthen its commitment to healthcare and biopharmaceuticals, Lotte Holdings has newly established a CVC dedicated to these fields. This CVC aims to gather cutting-edge insights to accelerate access to innovative technologies and promote investment in promising startups. In this first phase of investment, the CVC aims to target companies of all stages globally.

Lotte Holdings CEO Genichi Tamatsuka expressed, "Lotte Holdings has recently embarked on an ambitious venture into the healthcare sector, and we are committed to becoming a leading player in the health and wellness industry. This CVC marks our pivotal first step in establishing a platform to ignite innovation and drive our future growth."