News

News

STCube Attracts Investment of 42 Billion Won, “Accelerating Development of Anti-cancer Immunotherapies

관리자 │ 2018-04-25

HIT

259848

Strengthening R&D on multiple pipelines including PD-L1 as well as new targets

 

On the 25th, STCube reported that it had successfully raised a total of 42 billion won in investment.

STCube reports that it is receiving 42 billion won through capital increase from third-party allocation and privately placed convertible bonds. Renowned investment agencies, such as Timefolio Asset Management (through its Time-M private equity fund and KOSDAQ venture fund) and Lime Asset Management (through its KOSDAQ venture fund), have participated in the round.

STCube plans to utilize the fund to accelerate further research on existing pipelines, secure additional pipeline candidates, and conduct clinical trials on new investigational anti-cancer therapies.

STCube is currently developing various anticancer immunotherapeutic agents in its pipelines, some of which are directed to immune-checkpoint inhibitors. In addition to PD-L1 and PD-1 antibodies, which are commonly regarded as backbones of immune-checkpoint inhibitors, the company also is in possession of other proprietary immune-checkpoint antibodies such as CTLA-4 and LAG-3 antibodies. Furthermore, the company is conducting research on various novel targets.

In an effort to secure competitive edge in the immuno-oncology field, the company has entered into, and is accelerating collaborations with several renowned U.S. based research organizations. Advantages reaped from such collaborations manifested, for example, when the research regarding company’s proprietary PD-L1 antibody, which was developed jointly with MD Anderson Cancer Center, was published in prestigious journal Cancer Cell in February.

According to a company official, “[T]he objective evaluation report verifying the company's matchless technical expertise and growth potential made it possible for the company to successfully raise the necessary capital. With this fund raised, the company plans to vigorously pursue R&D and clinical trials on existing, as well as new additional, pipeline candidates. As pipelines in possession by STCube are directed to 'First in Class' and 'Best in Class' products, the company expects growing interest from multinational pharmaceutical companies, prompting the company to seek ways to advance potential collaboration/licensing opportunities." <End>





Prev A Road to Conquering Cancer — Successful Development of Antibody Drug as Poten...
Next STCube Obtains EU Patent for Screening Method for Cancer Immunotherapy Candidate...