Bridge raises $27.2M series C led by UTC, Shinhan

Bridge has parlayed a partnership with Daewoong on the South Korean biotech’s lead ulcerative colitis asset into a W31 billion ($27.2 million) series C round, which was led by returning investor UTC Investment Co. and new investor Shinhan Investment Corp.

Other new investors include Korea Development Bank, UNO Investment and the Daewoong Co. Ltd. investment arm of Daewoong Pharmaceutical Co. Ltd. (KSE:069620)...