Orum Therapeutics, a Daejeon, South Korea-based private biotech company creating novel therapeutics, completed an $8m Series A financing.
Backers included InterVest, KB Investment (KBIC)/Solidus Investment, and LB Investment. In conjunction ith the funding, Yeo Jung Moon, M.D, Ph.D., Investment Division Director at Intervest, will join Orum’s board of directors.
The company intends to use the proceeds to advance its technology to create novel therapeutics.
Led by Sung Joo Lee, Ph.D., Co-founder and CEO, Orum Therapeutics is advancing cell-penetrating antibody technology to create novel therapeutics which inhibit drug targets undruggable by small molecule or current antibody therapeutics.
In contrast to other approaches, the company’s antibody platform can target specific cell types, is adaptable to target different cell types and different intracellular proteins, and does not require chemical modification. This provides new opportunities to treat severe genetic diseases and cancer.