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Protier Biotech, Pre-A Investing of 3.5 Billion Won... Development of 'Molecular Glues and DACs'

  • Writer: Ji lee
    Ji lee
  • Apr 6
  • 2 min read

Updated: Apr 7

BioSpectre Data Reporter Lee Ju-yeon


Identifying MM molecular Glues and DAC candidate substances based on the molecular Glues development platform


Protier Biotech announced on the April 6th that it has successfully raised 3.5 billion won in Series pre-A investment.


This investment round was concluded on the March, with major investment firms participating, including Hana Ventures, Korea Investment Accelerator, IBK Venture Investment, Mirae Science & Technology Holdings, and T Investment.


Protier Biotech is focusing on developing innovative anticancer drugs capable of overcoming the limitations of existing treatments, based on a molecular glue development platform that has recently been attracting attention in the global pharmaceutical and biotech industry. In particular, the company is simultaneously pursuing the development of novel drugs utilizing the molecular glue mechanism alone, alongside the development of degrader-antibody conjugates (DACs), which are molecular glue-based antibody-drug conjugates (ADCs).


The company is currently developing anticancer candidate substances with multiple myeloma (MM) as the primary indication, and previously, its GSPT1-targeted MGD 'PTB600' and DAC 'PTB700', which uses the molecular glues as a payload, were selected last year for the Korea Drug Development Foundation (KDDF) 'Research on Establishing a New Drug R&D Ecosystem' and the Ministry of SMEs and Startups' 'SCALE-UP TIPS', respectively.


Based on this investment, Protier Biotech plans to accelerate the entry of its drug candidates into the preclinical stage and spur the advancement of its pipeline by expanding indications to include ovarian cancer.


Kim Hyun-tae, CEO of Protier Biotech, stated, “This investment round marks a significant milestone in which our molecular glues platform technology and drug development capabilities have been recognized by the market.” He added, “We will focus on developing a multiple myeloma treatment while simultaneously pursuing licensing-out agreements with global pharmaceutical companies to leap forward as a competitive, innovative biotech in the global market.”


 
 
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