MediMab Bio, a ground-breaking biotherapeutic company focusing on the generation of novel immunotherapies for the treatment of cancer, has successfully completed its Series A funding of ₩18B from 7 investment institutions, including Smilegate Investment Ltd. & BNH Investment Llc. which invested in the pre-Series A in 2019. The financing will allow MediMabBio to advance its main immuno-oncology pipelines (MMB-101 & MMB-102) by entering into the pre-clinical trials this year and accelerating MMB-201 development.
In parallel, the follow-up pipeline of candidate MMB-301, a first-in-class bispecific antibody targeting autoimmune disease, is at the antibody engineering stage. These pre-clinical studies will be in collaboration with the pathology research group at the University of Birmingham.
‘I am pleased to announce that we have successfully completed an $18M Series-A Fundraising in February 2021. For this fundraising, we had great support from our previous investors, who have all followed on as well as from the new five investment institutions, which are all top-tier investors in South Korea. Our fund will be used to accelerate the entry into pre-clinical trials for our main pipelines this year and to carry out collaboration works with other research groups for other pipelines.’
Dr Ji Eun Lee, MediMab Biotherapeutics’s CEO.
MediMab Biotherapeutics Ltd. is a 100% owned subsidiary company of MediMabBio Inc. and moved into the BioEscalator’s Innovation Lab in June 2020 to investigate unmet needs in cancer therapies.