LSBIO Secures Funding and Selected for TIPS to Advance Natural Antidiabetic Drug Development
Reading Time: 2 minutesLSBIO, a South Korean startup focused on developing a natural product-based platform for antidiabetic drugs, has secured pre-Series A bridge funding from New Paradigm Investment and the Korea Alternative Investment Corporation. The combined funding from institutional and individual investors totals KRW 1.1 billion.
Endorsed by New Paradigm Investment, LSBIO was also selected for the TIPS program, securing KRW 500 million in R&D funding over two years, with an additional KRW 200 million earmarked for commercialization and international marketing efforts. Moreover, through the Gyeonggi Province Wings program, LSBIO will receive an annual support of KRW 100 million.
Specializing in the development of fermentation substances (LS-1000) that aid in preventing and improving widespread vascular and metabolic diseases among adults globally, LSBIO also manufactures and distributes high-functionality health foods. The company reinvests the profits from its healthcare commerce business into R&D for developing natural product drugs, aiming to establish itself as a fundamentally robust biotech company. Its ultimate goal is to develop the world’s first treatment for diabetes and enhancers for pancreatic function.
LSBIO has launched ‘DR Free,’ a product developed with its proprietary fermentation and low molecular weight transformation technologies, focusing on antidiabetic properties.
Bae Sang-seung, the lead investor from New Paradigm Investment, remarked, “New Paradigm Investment specializes in swiftly investing in early-stage companies and assisting them in scaling up. We have supported LSBIO’s initial funding, and its selection for the TIPS and Gyeonggi Province Wings programs, and we are actively involved in subsequent matching investments, providing comprehensive support not just financially but also in accelerating sales growth.”
Jang Dae-yong, CEO of LSBIO, commented, “Thanks to the investment from New Paradigm Investment and Korea Alternative Investment, we have laid the groundwork to accelerate the expansion of our health functional food lineup and further our drug development initiatives. By 2025, we aim to successfully complete the preclinical studies to validate the antidiabetic effects of ‘LS-1000’ and start Phase 1 clinical trials. Our objective is to develop the first domestic natural product-based antidiabetic drug that is both safe and has minimal side effects, contribute to national health improvement, and strive to develop a global blockbuster drug. This year, our sales target is KRW 6 billion, and we are planning to launch three new products in our health functional food lineup soon.”
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