01 March 2021 | News
South Korean biotech firm LISCure Biosciences raises $21M in Series B funding
Photo Credit: shutterstock
On February 25th, 2021, LISCure Biosciences Inc., a South Korean biotech company that focuses on developing bacteria-mediated immunotherapy, announced that it has successfully completed $21 million of a Series B funding round. Participants include institutional investors, venture capitals, and KOSDAQ listed companies (as strategic investors).
LISCure is developing the world's first microbiome-based NASH (non-alcoholic steatohepatitis) treatment, LB-P8, as well as the rheumatoid arthritis treatment, LB-P6, for global clinical trials.
"This investment was made after reviewing the promising pre-clinical results of LISCure's new drug candidates for each indication and we verified its potential as a new therapeutic treatment. Based on the technologies of both companies, we will actively cooperate in research and development for these innovative new drug candidates in the microbiome field", one of the strategic investors said.
This funding round will help LISCure further develop its pipeline and enhance its R&D capabilities of key technologies. LISCure uses a single strain approach whose strain is a naturally derived as well as non-pathogenic substance so it has a great advantage over other microbiome competitors in terms of safety.
LISCure's drug candidates have already been tested for efficacy and safety by a third CRO, and the four of the candidates have been completed the process development by CDMO based in the United States. Two of the candidates are currently in the process of cGMP manufacturing under CDMO based in France. LISCure is expecting the four lead candidates to enter global clinical trials in the next two years and possibly begin phase 2 with two of the candidates.
In addition to the funding, LISCure has completed the establishment of corporations in the US and Australia for global clinical development. LISCure is planning to expand indications of each program through the US subsidy, working with global top research institutes.