Korean medical radioisotope-based cancer therapeutics developer, Cellbion, has raised KRW 8 billion in a pre-IPO round, featuring investors like Hana Ventures, Huons, and Sinsin Pharm. Cellbion plans to leverage this investment for its listing on the KOSDAQ market in the second half of the next year. 

The company’s pipeline includes Lu-177-DGUL, an innovative treatment for end-stage prostate cancer patients who have failed standard therapies. This radiotherapy drug works by delivering radiation to prostate cancer cells, inducing DNA damage and cell death. 

It’s the result of a collaboration between Cellbion and Seoul National University Hospital, highlighting the nation’s R&D capabilities. Lu-177-DGUL is currently in phase 2 clinical trials in Korea, showing promising results with a significant reduction in PSA levels and tumor size in patients. 

The drug’s exceptional clinical results have attracted attention from both domestic and global pharmaceutical companies, with Cellbion engaging in discussions with prominent names like Novartis, Lilly, BMS, and AstraZeneca. 

Hana Ventures cited the rapidly growing radioisotope pharmaceutical market and Cellbion’s strong clinical data as reasons for their investment. 

Cellbion plans to expand clinical trial sites after completing phase 2, aiming for a market launch post-trials.