General Proximity Receives Investment from FreeMind Group

The company plans to use the funds to grow its operations and advance its development work.

General Proximity has developed a unique discovery engine that scans the “effectome”—proteins that can influence disease-related proteins—to create new proximity-based therapies for targets that were previously hard to treat.

The company has raised over $20 million, won “Golden Ticket” awards from major pharma companies like AbbVie, Servier, Astellas Pharma, Ono Pharmaceutical, and Bristol-Myers Squibb, received grants from ARPA-H and the National Cancer Institute, and recently partnered with Daiichi Sankyo to use its OmniTAC platform for cancer programs, while also advancing its own research in areas like oncology, heart disease, brain disorders, and longevity.

FreeMind Group is a leading consultancy that helps life science organizations secure non-dilutive funding, having raised over $2 billion for clients and more than $100 million each year, and it uses its funding review process to identify strong investment opportunities early while also helping companies access pharma partnerships, co-development deals, and expansion into Asian markets.

Daewoong Pharmaceutical Co., Ltd. is a leading South Korean drug company that develops, makes, and sells innovative medicines worldwide with partnerships in over 100 countries, and its investment shows a strong interest in General Proximitys platform and a potential future collaboration.

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"FMI was built to translate deep non dilutive funding intelligence into investment conviction," said Ram May-Ron, Founder, and Managing Partner at FreeMind Investments. "General Proximity stands out for the quality of it's science, the strength of its team, and its potential to unlock new therapeutic options for targets long considered out of reach."

"We see significant strategic potential in General Proximity's induced proximity approach," said Seongsoo Park, CEO, Daewoong Pharmaceutical Co., Ltd. "We look forward to building a future strategic collaboration with the General Proximity team."

"We are excited to welcome FreeMind Investments and Daewoong Pharmaceutical as investors," said Armand Cognetta, Founder & Chief Executive Officer of General Proximity. "Their investment conviction, and deep expertise in drug discovery validate our scientific approach and the high impact pipeline we are building."

About General Proximity

Founded by Armand B. Cognetta III, General Proximity is a biotech company developing next-generation proximity-based medicines using its OmniTAC™ platform to identify proteins that can control disease-related targets and create new treatment options across areas such as cancer, with several early-stage programs already in development.

About FreeMind Investments

Founded by Ram May-Ron and B. Christopher Kim, FreeMind Investments is a venture capital fund created with FreeMind Group and Daewoong Pharmaceutical Co., Ltd. that invests in life science startups and uses funding insights to identify strong opportunities and help companies overcome early-stage challenges.

About Daewoong Pharmaceutical Co., Ltd.

Founded in 1945, Daewoong Pharmaceutical Co., Ltd. is a leading South Korean pharmaceutical company that develops, manufactures, and sells medicines worldwide, with strong in house research capabilities, operations across Asia and the United States and partnerships in more than 100 countries.

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