ImmunoMet Therapeutics, a Houston, TX-based biotechnology company developing innovative drugs for the treatment of cancer, raised $5.2m in Series A funding.
The round was led by Mirae Asset Venture Investments (Mirae Asset) with participation from Aju Tech, GNTech, and MetaVest. In conjunction with the funding, Jae Joon Kim, Director at Mirae Asset, joined its Board of Directors.
The company intends to use the funds for research and clinical development programs, establish its worldwide headquarters in Houston, TX, and for general corporate purposes.
Led by Sung-wuk Kim, CEO, ImmunoMet Therapeutics is a development-stage biotechnology company, focused on the development of innovative oncology products for cancer patients.
The company, a spinoff of HanAll Biopharma, has developed novel technology designed to disrupt cancer cell growth and enhance anti-cancer immunity, which may be used in a broad range of difficult-to-treat cancers. Its lead compound, IM156, for the treatment of glioblastoma (brain cancer) is expected to enter Phase 1 clinical development in the second half of 2016.