Shinhan Investment said Monday it has signed a memorandum of understanding with PharmaVentures, a UK-based leading advisory firm providing whose main clients are health care life science companies, to diverse its investment banking services. 

Under the partnership agreement, the two companies will boost cooperation in supporting South Korean biotech and pharmaceutical companies to advance to the global stage, while arranging international firms’ investments in the domestic health care market.

“We will provide differentiated IB services to help large and midsized bio firms to successfully make inroads into the global market,” said Jung Keun-soo, vice president and managing director of Shinhan Investment’s global investment banking division. 

“In the coming year, (Shinhan Investment) will continue to carry out meaningful capital markets businesses to boost future growth industries.”

Founded in 1992, PharmaVentures handled more than 1,000 cases of mergers, acquisitions and joint venture activities for companies worldwide.