This article was displayed on the ChosunBiz MoneyMove (MM) site at 1:41 p.m. on Mar. 13, 2026.
JW Group, best known for JW Pharmaceutical, will acquire venture capital (VC) Solidus Investment. It was learned that the group has continued negotiations since last year, valuing highly the firm's track record as CHA Bio Group's biotech-focused VC, including major K-bio investments such as Alteogen and Orum Therapeutics.
According to the investment banking (IB) industry on the 13th, JW Group recently signed a stock purchase agreement (SPA) to acquire a controlling equity stake in Solidus Investment. JW Holdings, JW Group's business-type holding company, acted as the acquirer of Solidus Investment and was also understood to have completed payment of the consideration that day.
The target of the acquisition is 100% equity in Solidus Investment held by CHA Biotech and Cha Cares, with the sale price set at 30.6 billion won. JW Holdings was named the preferred bidder at the end of last year and has since discussed the transaction structure and other details with CHA Bio Group.
CHA Bio Group established Solidus Investment in 2011 as a biotech-focused VC to enhance investment synergies within the group in connection with CHA Hospital and CHA University. However, it chose to sell as part of asset disposals and funding efforts pursued ahead of expanding its Digital Healthcare business.
JW Group plans to use Solidus Investment as an open-innovation channel to find promising K-bio ventures. The judgment is that Solidus Investment, founded in 2011 as CHA Bio Group's biotech-focused VC, already has proven partners and an extensive investment network.
In practice, JW Group has preferred to absorb technology rather than directly "own" biotechs. The core is to sign joint-research agreements with new drug development biotechs and share profits when results are achieved, and Solidus Investment is expected to take on the role of proactively sourcing promising biotechs.
Another factor in the decision was that JW Holdings, the holding company leading the acquisition, could secure a new cash cow in the form of investment returns in addition to dividends from affiliates. Solidus Investment currently manages eight investment partnerships, seven of which have entered the exit phase.
Meanwhile, CHA Bio Group is expected to accelerate the expansion of its Digital Healthcare business using the proceeds from the sale of Solidus Investment. In particular, the group advanced a business reorganization with the launch of a system led by Vice Chairman Cha Won-tae, the third-generation owner, and last year acquired Kakao Healthcare.