Genome & Company secured a 30 billion won investment from domestic institutional investors.
Genome & Company said on the 6th that it raised a total of 30 billion won by issuing 27 billion won in convertible bonds (CB) and 3 billion won in convertible preferred shares (CPS).
Eight domestic institutional investors participated in the investment, including Suseong Asset Management, C-Square Asset Management, Brain Asset Management, NH Hedge Asset Management, DongKoo Bio&Pharma, Aone Asset Management, Welcome Asset Management, and Dain Asset Management. Suseong Asset Management made its third investment.
Genome & Company plans to use the funds secured to develop new Antibody-Drug Conjugate (ADC) therapies for novel targets. The company is using its genome analysis-based drug discovery platform "Genocle" to secure a pipeline of novel targets and develop ADCs based on them.
The company is currently developing the TOP1 (topoisomerase 1) inhibitor-based ADC "GENA-120," which targets ITGB4, and the CNTN4-targeted "GENA-104 ADC," among others. GENA-120 is a candidate based on a target with high expression confirmed in certain solid tumors, including head and neck cancer, cervical cancer, and colorectal cancer.
Hong Yu-seok, CEO of Genome & Company, said, "Based on the funds secured, we plan to pursue technology transfer for preclinical candidates."