Eutilex Co. Ltd., a Seoul, South Korea-based clinical-stage biopharmaceutical company, completed a $21 billion KRW (US $18.9M) Series A financing.
The round included participation from DS Asset Management, Kolon Investment, G.N. Tech Venture and SNU Bio Angel.
The company, which has raised 30.5 billion KRW (US $27.7M) since its founding in 2015, intends to use the funds to accelerate the development and commercialization of its immuno-oncology programs, expand its R&D capabilities by building a new Good Manufacturing Practice (GMP) facility in Seoul and advance its lead therapeutic product candidate, 4-1BB CTL, into Phase 2 clinical studies.
Led by Byoung S. Kwon, Ph.D., founder and CEO, Eutilex focuses on the development of anti-tumor T cell and antibody therapeutics for the treatment of cancers and autoimmune diseases. The most advanced drug candidate is an adoptive T cell therapy, 4-1BB CTL (1), an autologous T cell therapy that enriches the patient’s own anti-tumor CD8+ T cells outside of the body (ex-vivo) and is then re-infused back into patients, which has finished Phase 1 clinical trials and will begin Phase 2. Other pipeline candidates in development include monoclonal antibodies, EU-101, EU-102 and EU-103.