South Korean Targeted Protein Degradation (TPD) drug development company PinTherapeutics has raised KRW 20 billion (approximately USD 15.4 million) in Series C funding. Despite a challenging investment climate for the biotech sector, this round saw follow-on investments from existing shareholders KB Investment, DSC Investment, Korea Investment Partners, We Ventures, and KDB, as well as participation from new investors, including Yuanta Investment, CKD Venture Capital, and Quantum FA.

PinTherapeutics highlighted that its advanced technology and competitive pipeline in molecular glues and novel E3 ligases—key areas in TPD drug development—were instrumental in securing investor confidence.

Traditional drugs typically work by inhibiting or blocking the active sites of disease-causing proteins, but they face limitations such as target restrictions, toxicity, and resistance caused by mutations. TPD technology offers a breakthrough by leveraging the body’s natural systems to degrade pathological proteins, overcoming these challenges and opening new therapeutic possibilities.

With this funding, PinTherapeutics plans to secure IND approvals for its lead pipeline asset, CK1α-selective degrader (PIN-5018), in both the U.S. and South Korea by 2025, advancing it to clinical trials. The company also aims to develop additional next-generation pipelines based on its platform technology.

PinTherapeutics is actively pursuing technology transfer agreements with global pharmaceutical companies and collaborative R&D projects both domestically and internationally. The company plans to proceed step by step with technology evaluations and applications for IPO readiness. It is also focused on establishing a new chemical research lab and recruiting top talent to strengthen its long-term growth foundation.

“We aim to position ourselves as a leading company in drug development modalities and deliver on our investors’ expectations,” said PinTherapeutics. “Our goal is to grow into a company recognized for successful technology transfers and collaborative R&D achievements.”