250102 TPD Platform Spurs Bio Investment, Speeds Up Clinical Development

Uvix, Fintera, Alginomics Raise Large Funds;
TPD Biotech Gains Market Recognition

While domestic unlisted biotech companies developing new drugs secured investments from major venture capitalists (VCs) last month,
industry experts suggest that developers of targeted protein degradation (TPD) platforms led a recovery in investor sentiment within the biotech sector in December.

According to industry sources on the 1st, new drug development companies such as Ubix Therapeutics,
Fintera Therapeutics, and Alginomics successfully secured late-stage investments (Series C and pre-IPO) from venture capitalists last December.

TPD developer Ubix Therapeutics completed a pre-IPO equity investment of KRW 25.7 billion last month. The company is developing treatments for intractable cancers using TPD technology, which selectively degrades disease-related proteins, and holds a total of eight pipelines (new drug candidates).
Among them, UBX 303-1 (a B-cell lymphoma treatment) has received Phase 1 clinical trial approval from both the U.S.
Food and Drug Administration (FDA) and South Korea’s Ministry of Food and Drug Safety (MFDS) and has commenced clinical trials.

Ubix Therapeutics possesses pipelines that have entered global clinical trials using its standalone TPD platform.
Last July, the company signed a KRW 150 billion technology licensing (L/O) agreement with Yuhan Corporation for UBX-103 (a prostate cancer treatment).

TPD-focused new drug developer Pin Therapeutics announced on the 23rd that it secured KRW 20 billion in Series C funding.
The company has established the PinE3 platform to discover new E3 ligases, covering everything from E3 ligase selection to screening, binding and activity analysis, and optimization.

With this investment, Pin Therapeutics plans to enter clinical trials with its lead pipeline, the CK1α-selective degrader (PIN-5018), by obtaining IND approval in the U.S. and Korea by 2025.

RNA-based gene therapy developer Alginomics completed a KRW 20.3 billion pre-IPO investment in December.
The company plans to use the funds to accelerate research and development (R&D) and strengthen financial stability.

In addition, natural compound–based pharmaceutical developer BICHEDAM (Pre-A undisclosed) secured investment from domestic institutional investors, and biotech company Promedigen attracted a KRW 2 billion strategic investment from SuzenTech.

Industry consensus suggests that venture capitalists, observing the growth potential of TPD drug developers, are investing in companies with their own TPD platforms.

A representative from a TPD developer said, “Investors seem to have moved past skepticism about TPD technology and are now recognizing the achievements of TPD biotech companies. With the interim efficacy results from the Phase 3 trial of U.S.-based TPD developer Arvinas expected in the first half of this year, such news is raising expectations in the TPD field.”

Source : Hit News(https://www.hitnews.co.kr/news/articleView.html?idxno=60501)