Thursday, 28 March 2024


Korean startup D&D Pharmatech secures $51M ahead of IPO in 2022

20 October 2021 | News

To advance potential disease-modifying treatments for neurodegenerative, fibrotic, and metabolic diseases

image credit- shutterstock

image credit- shutterstock

D&D Pharmatech Inc., a South Korea-based clinical-stage biotechnology startup focused on development and commercialization of revolutionary medicines, and parent company of U.S.-based Neuraly Inc., Precision Molecular, Inc., Theraly Fibrosis Inc., P4Microbiome and Valted Seq, has announced that it has completed a $51 million Series C round of financing led by Praxis Capital Partners, a private equity firm that focuses on growth acquisitions and investments in Asia; other investors included DS Asset Management, Kudos Ventures and Korea Investment & Securities.

The new round of financing builds upon the $137.1 million the company secured in Series B financing in August 2019. The company is planning an initial public offering in Korea in 2022.

Proceeds will be used to advance DD01 into a Phase 2 clinical trial for obese patients with both diabetes and nonalcoholic fatty liver disease (NAFLD), continue support of Phase 2 studies of NLY01 in Parkinson’s and Alzheimer’s disease, and the evaluation of TLY012 in patients with fibrotic disorders.

Sign up for the editor pick and get articles like this delivered right to your inbox.

Editors Pick
+Country Code-Phone Number(xxx-xxxxxxx)


Comments

× Your session has been expired. Please click here to Sign-in or Sign-up
   New User? Create Account