Pinetree Therapeutics (Pinetree), a biotech company focused on developing anticancer drugs, has successfully raised $17 million (approximately KRW 23.5 billion) in a Series A funding round. This round was led by STIC Investments and DSC Investment, with new investors such as Atinum Investment, S&S Investment, and Quantum FA also participating. Existing investors Samho Green Investment and Schmidt continued their support.

Founded in 2019 in the Boston-Cambridge area, USA, Pinetree is a leader in next-generation targeted protein degradation (TPD). The company is developing anticancer drugs designed to overcome resistance to existing treatments. Pinetree’s flagship technology, the AbReptor™ platform, is an antibody-based system engineered to degrade disease-causing cell membrane receptors and plasma proteins. Recently, Pinetree highlighted the potential of its platform by signing a technology transfer agreement with AstraZeneca, a global pharmaceutical company.

With this new investment, Pinetree plans to further develop its innovative multi-specificity TPD technology, which targets various cancer types and proteins using the AbReptor™ antibody degradation platform. The company also intends to explore applications in other therapeutic areas.

Kim Yohan, Executive Director of DSC Investment, who co-led the funding round, commented, “We were impressed by Pinetree’s development of the innovative AbReptor™ platform, which prompted us to join as co-lead investors. Based on the promising preclinical data on Pinetree’s new membrane degrader, we are committed to continuing our support for Pinetree’s groundbreaking platform.”

Dr. Song Ho-jun, founder and CEO of Pinetree, expressed his satisfaction with the Series A investment, saying, “We are thrilled to accelerate the progress of Pinetree’s AbReptor™ platform and expand our pipeline development with this funding. The investment will be used to advance follow-up anticancer drug pipelines and develop preclinical candidates in various therapeutic areas.”