바이오스펙테이터

바이오스펙테이터 Sungmin Kim 기자

With strategic Investors of Cytogen and HB Investment, NH Investment & Securities, Sun & Tree Fund

Well Marker Bio, a company specialized in the development of anticancer drugs based on biomarkers, has announced on July, 10th, 2019, that it has invested \ 18 billion (won, Korean dollar) in series B. It is less than a year after investment of 28 billion won in series A last year, and succeeded in receiving additional investment this time.

This investment is involved with a strategic investor (SI), including KOSDAQ listed company Cytogen, which has liquid biopsy technology based on circulating tumor cells (CTCs). Also, HB Investments, NH Investment & Securities (IPO), Sun & Tree Fund, Brick Investment, Orbit Partners and Mirae Asset Venture Investment have joined as financial investors (FI).

Through this investment, Well Marker Bio will have the leading project preparing for domestic and overseas clinical development of targeted anti-cancer drug 'WM-S1', targeting for Erbitux resistant colorectal cancer patients. Also, they will focus on ‘first in class' research and development of new drugs and additional pipeline.

"We are very pleased to have successfully completed the series B investment in two and a half years since its establishment," said Dr. Jung-Hoon Well, Ceo of Well Marker Bio. "We are developing new drugs with global competitiveness and increasing our status as a professional company. And we will promote open innovation while enhancing our capacity."

Well Marker Bio, a spin-off company from Asan Medical Center in December, 2016, is developing five anticancer drugs based on biomarkers for predicting therapeutic response. Well Marker Bio has concluded business agreements with a number of domestic and foreign companies and organizations, including Biogenetics, Korea Atomic Energy Research Institute, the Vinnitsa National Medical University of Ukraine, and Podilya Regional Oncocenter.