Korean Medical Startup Cellbion Raises KRW 8 billion for Innovative Cancer Radiotherapy Drug
Korean medical radioisotope-based cancer therapeutics developer, Cellbion, has raised KRW 8 billion in a pre-IPO round, featuring investors like Hana Ventures, Huons, and Sinsin Pharm. Cellbion plans to leverage this investment for its listing on the KOSDAQ market in the second half of the next year.
The company’s pipeline includes Lu-177-DGUL, an innovative treatment for end-stage prostate cancer patients who have failed standard therapies. This radiotherapy drug works by delivering radiation to prostate cancer cells, inducing DNA damage and cell death.
It’s the result of a collaboration between Cellbion and Seoul National University Hospital, highlighting the nation’s R&D capabilities. Lu-177-DGUL is currently in phase 2 clinical trials in Korea, showing promising results with a significant reduction in PSA levels and tumor size in patients.
The drug’s exceptional clinical results have attracted attention from both domestic and global pharmaceutical companies, with Cellbion engaging in discussions with prominent names like Novartis, Lilly, BMS, and AstraZeneca.
Hana Ventures cited the rapidly growing radioisotope pharmaceutical market and Cellbion’s strong clinical data as reasons for their investment.
Cellbion plans to expand clinical trial sites after completing phase 2, aiming for a market launch post-trials.
[Korean bioHealth Startups News]
- SEOUL BIOHUB Global Center Opens, Aiming to Boost Global BioTech Competitiveness
- Delight Room Invests in Soundable Health for Advanced Sound Analysis in Healthcare
- Apollon Secures 2.3 Billion KRW in Funding for Innovative Needle-Free CGM Technology
- Korean Space Medicine Startup SpaceLiintech Lands 4 Billion KRW Series A Funding
- ArtBlood Secures KRW 6.5 Billion in Series A for Synthetic Blood Production
- GLOUD Raises 3B KRW in Pre-Series A for Global Dental Digital Transformation Expansion
- Protium Science and HK innoN Forge Strategic Investment & Partnership
- LabInCube Raises KRW 5.1B in Series A for MOF Material Development
- Prevenotics Secures Investment for AI-Based Cancer Prevention from 500 Global
- Syntekabio Secures KRW 10B for AI Drug Development from Korea Investment Partners
