All Bio-HealthCare Funding Startup News in Korea (Korean Startup News)

Ingenium Therapeutics Secures 5.3 Billion Won in Series A Funding to Advance Natural Killer Cell Therapies and Global Expansion

2023-11-21 2 min read


Ingenium Therapeutics Secures 5.3 Billion Won in Series A Funding to Advance Natural Killer Cell Therapies and Global Expansion

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Ingenium Therapeutics, a South Korean biotech company specializing in the development of next-generation Natural Killer (NK) cell therapies and related immunotherapies, has recently secured a Series A investment of 5.3 billion won. This round saw participation from Capstone Partners, K-Ground Ventures, and Laplace Partners , with Daewoodang Healthcare joining as a new investor.

This funding follows a 6 billion won pre-Series A round raised last April, bringing the total investment to 14 billion won. With this capital, Ingenium is set to expedite its approved Phase 2 clinical trials and expand internationally.

Established in November 2020, Ingenium is a pharmaceutical company that possesses core Memory NK technology and clinical data. It is presently concentrating on clinical development and new therapeutic innovations, following the Phase 2 IND approval by the MFDS. Its pipeline includes Memory NK Gengleucel and the off-the-shelf Memory NK IGNK002. These have demonstrated impressive efficacy and safety in acute myeloid leukemia during Phase 1 and 2 trials conducted over the past 17 years.

Investors have highly commended Ingenium for its advanced technology, clinical data, and commercial readiness. Cho Jusik, CEO of Daewoodang Healthcare, lauded Ingenium’s pioneering foundation in drug development, the clear mechanism of its pipeline, and the extensive clinical data accumulated over 17 years.

The company’s successful funding is partly attributed to its impressive team. CEO Ko Jin-ok, an expert in domestic business development, has overseen drug licensing deals exceeding 1 trillion won. His career began in pharmaceutical sales with JW Pharmaceutical and Pfizer Korea, followed by a stint in pharmaceutical marketing at Eisai Korea. He later managed global business development at Eisai’s headquarters in Japan and its Asia headquarters in Singapore. He has also served as the director of business development at Mundipharma Korea and as the director of global business at Kolon Life Science.

Dr. Choi In-pyo, Ingenium’s CSO and a cell therapy expert with over 30 years of experience, along with the team members in process, quality, and production, who have more than a decade of industry experience, are also instrumental in the company’s success.

CEO Ko Jin-ok commented, “We have successfully secured funding for research and business development. Ingenium has inherited over 20 years of technology, clinical data, and expertise from the Korea Research Institute of Bioscience and Biotechnology. This investment round reflects the market’s high confidence in our technology and validated data, even amidst challenging investment conditions. We are committed to enhancing our company’s value by advancing the clinical development and commercialization of our key pipeline products.”

In the meantime, clinical trials for the commercialization of Gengleucel for patients with refractory acute myeloid leukemia are set to commence shortly at major university hospitals in Korea. Ingenium’s long-term vision includes elevating the paradigm of cancer treatment by developing anti-cancer immuno-cellular therapies that are broadly applicable and highly effective, including both monotherapy and combination therapies.

[Korean bioHealth Startups News]

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