• IGIS, Korea's largest real estate asset manager, signs an MOU with CHA Bio Group to establish the first life sciences real estate venture.

• Life sciences, real estate, Korea, JV, healthcare.

IGIS Asia Investment Management ("IGIS"), the pan-Asian investment arm of IGIS Asset Management, South Korea's largest real estate investment manager, announced this month a partnership with CHA Bio Group ("CHA"), one of the largest and oldest biopharma groups in South Korea with a vast global presence, to form a new Asia-Pacific life science real estate investment platform.

The venture targets to provide best-in-class life science real estate for R&D, manufacturing, and other supporting services for a spectrum of companies ranging from biotechnology incubators to multinational pharmaceutical groups in the Asia-Pacific region, including metropolitan cities in South Korea. The partnership will rely on IGIS's past track record of real estate transactions and CHA's expertise in the life sciences industry to gain first-mover advantage in providing life science real estate solutions in South Korea and overseas.

IGIS and CHA share the view of the venture's role as a catalyst for the robust growth of life science sector in the Asia-Pacific region. To respond to rapidly changing demand and multifaceted market challenges, the venture will develop and invest in high-quality life science assets, including R&D and manufacturing facilities, hospitals, medical offices, and other healthcare centers in Asia-Pacific. In addition, IGIS aims to establish Korea Life Science Investment Platform ("KLSIP"), the first Korea-focused investment vehicle on life science real estate, to invigorate the venture with capital to develop facilities that meet the demands of the growing life science industry in South Korea.

About IGIS Asset Management

Founded in 2011, IGIS Asset Management ("IGIS") is a privately owned vertically integrated real estate investment management firm and South Korea's largest real estate asset manager with assets under management totaling approximately US$45.5 billion as of Dec 2022. The company has over 360 professionals with a presence in 5 countries and profound expertise to invest across different strategies from core to opportunistic in multiple sectors across various markets.

About IGIS Asia Investment Management

IGIS Asia Investment Management ("IGIS AIM") is an overseas subsidiary of IGIS established in 2020 in Singapore. IGIS AIM focuses on expanding its presence within Asia-Pacific through joint venture partnerships with operators, asset managers, and local partners. In addition, the firm will invest thematically in high-quality assets across the Asia-Pacific markets to benefit from the growth potential driven by global economic and demographic trends.

About CHA Bio Group

CHA Bio Group is a Korea's leading bio-pharma group comprised of more than 50 domestic and foreign affiliated companies. The group operates a unique eco system based on the collaboration of biotech & pharmaceutical companies, university, research institute and hospital network.

CHA Biotech, a company among the three KOSDAQ-listed entities within the group is an industry leader in cell therapy development. CHA Biotech recently established Matica Biotechnology in Texas USA to enter the fast-growing global cell and gene CDMO business.

CHA Healthcare is a unique global healthcare network provider that oversees hospital investment & development outside Korea. CHA Healthcare has established a global healthcare platform of medical network consisting of 86 medical centers and IVF clinics in 7 countries, including the USA, Australia, Singapore, Japan and etc.

The issuer is solely responsible for the content of this announcement.