Daewoong Pharmaceutical announced on Thursday that it has made strategic investments in Primind Investment (FMI), a venture capital fund established by the Primind Group, and General Proximity, an American biotech company.
These investments aim to secure cutting-edge Induced Proximity technology, which is gaining attention as a next-generation drug development method, and to expand the company’s global collaborative network.
Unlike traditional drug development approaches that require designing drugs to fit specific binding sites for protein function regulation, Induced Proximity technology simultaneously connects target and regulatory proteins, guiding the modulation of protein functions.
Founded in 2019, General Proximity has developed a platform for discovering Induced Proximity therapeutics based on its proprietary Effectome scanning technology. This innovative approach allows for selective protein interactions, enabling precise regulation of specific protein functions and expanding research into previously challenging areas, including Target domains. The company is currently broadening its drug pipeline across various fields, including oncology, cardiovascular and metabolic diseases, and neurodegenerative disorders.
Through this investment, Daewoong Pharmaceutical and FMI plan to forge a strategic alliance with General Proximity, exploring long-term collaboration opportunities in joint research and technological cooperation. They will particularly focus on evaluating the potential for developing groundbreaking therapeutics using the Induced Proximity-based drug development platform to bolster their position in the global market.
Daewoong Pharmaceutical Chief Executive Officer (CEO) Park Seong-soo commented that General Proximity’s Induced Proximity technology represents a game-changing approach that can overcome the limitations of traditional drug development and holds immense strategic value. They’re committed to strengthening the partnership with General Proximity to drive innovative drug development forward.
In related news, Daewoong Pharmaceutical recently announced that its in-house developed gastroesophageal reflux disease treatment, Fexuclue 40 mg (active ingredient: Pexuprazan), has received marketing approval in Indonesia.
The approved indication is for the treatment of erosive gastroesophageal reflux disease. Daewoong Pharmaceutical aims to aggressively expand Pexuclu’s prescription base in response to the rising incidence of gastroesophageal reflux disease and growing treatment demand in the Indonesian market.
Notably, Fexuclue demonstrated rapid onset of action and therapeutic efficacy through investigator-initiated clinical trials conducted in Indonesia in 2025, where local medical professionals directly evaluated its effectiveness in Indonesian patients.
Furthermore, Daewoong Pharmaceutical has submitted an Investigational New Drug (IND) application to the Korean Ministry of Food and Drug Safety for a multinational Phase 3 clinical trial, to be conducted jointly in South Korea and Indonesia, aimed at expanding the treatment indications to include gastric ulcers.
