#USA #San Francisco #General Proximity #Daewoong Pharmaceutical #FreeMind Investments

FreeMind Investments Collaborates with Daewoong Pharmaceutical to Invest in General Proximity

On May 4, 2026, FreeMind Investments (FMI), a venture capital fund created through the collaboration of FreeMind Group and Daewoong Pharmaceutical Co., Ltd., announced a significant investment in General Proximity, an innovative biotechnology firm located in San Francisco. This investment highlights the company’s impressive scientific framework and its commitment to developing cutting-edge induced proximity medicines that could reshape therapeutic standards.

General Proximity is making groundbreaking strides in biotechnology with its unique mechanism-agnostic proximity discovery engine. This engine focuses on scanning the "effectome," which encompasses the set of effector proteins capable of modulating disease-causing proteins to regulate biological processes. Such an innovative approach enables the development of highly effective proximity therapeutics aimed at targets previously viewed as unattainable within the medical field. To date, General Proximity has successfully raised over $20 million, achieved prestigious "Golden Ticket" awards from top pharmaceutical companies such as AbbVie, Servier, Astellas, Ono, and Bristol-Myers Squibb. Additionally, they have garnered significant grant funding from organizations like ARPA-H and the NIH's National Cancer Institute. Notably, the company recently initiated a strategic multi-target collaboration with Daiichi Sankyo, utilizing its proprietary OmniTAC platform to enhance various oncology programs.

FreeMind Group, which has been a frontrunner in non-dilutive funding consultancy since its inception in 1999, has secured over $2 billion for its clients. The firm’s exceptional understanding of funding dynamics serves as a powerful due diligence tool for identifying promising investment candidates early in their lifecycle. Moreover, FMI aims to facilitate pharma deal-making access for its investees, allowing them opportunities for co-development and market entry—particularly into the Asian market.

Daewoong Pharmaceutical Co., Ltd., established in 1945, is a leading South Korean pharmaceutical enterprise that specializes in the research, manufacturing, and commercialization of pharmaceuticals on a global scale. With strategic alliances in over 100 countries, Daewoong possesses an extensive network designed to enhance the international reach of its products. The recent investment reflects the company’s strategic interest in the innovative platform developed by General Proximity and its aspiration to explore lucrative collaboration possibilities in the future.

Ram May-Ron, Founder and Managing Partner at FreeMind Investments, expressed, “FMI was created to convert our in-depth insights into non-dilutive funding into sound investment decisions. General Proximity is distinguished by its scientific excellence, robust team, and capacity to unveil new therapeutic possibilities for targets that have long been considered inaccessible.”

Seongsoo Park, CEO of Daewoong Pharmaceutical, emphasized the strategic importance of General Proximity's innovative approach, stating, “We see exceptional strategic potential in General Proximity’s induced proximity approach. We look forward to solidifying a future collaboration with the General Proximity team.”

Armand Cognetta, Founder and Chief Executive Officer of General Proximity, shared his enthusiasm regarding the new investors, saying, “We are thrilled to have FreeMind Investments and Daewoong Pharmaceutical join us. Their investment instincts and extensive expertise in drug discovery affirm our scientific methods and validate the significant pipeline we are cultivating.”

In summary, the collaboration between FreeMind Investments and Daewoong Pharmaceutical with General Proximity marks an exciting development in the biotechnology field. With a combined vision to advance induced proximity medicines, the partnerships promise to pave the way for innovative solutions in oncology and numerous therapeutic areas, potentially changing the landscape of modern medicine for years to come.