Emmaus Life Sciences, a Los Angeles rare and orphan disease pharma, raised a net $6 million from Korean investors in a deal with an unusual structure. The two Korean companies, KPM Tech and Hanil Vacuum, invested $20 million in Emmaus, and Emmaus, in turn, invested $14 million in them. Emmaus recently filed an NDA in the US for its oral pharmaceutical-grade L-glutamine (PGLG) treatment for sickle cell disease.
