Ubix Therapeutics, a leading South Korean company specializing in Targeted Protein Degradation (TPD) technology, has successfully completed its KRW 25.7 billion (approximately $19.5 million) Pre-IPO fundraising.  

The round attracted new investors including Solidus Investment, Shinyoung Securities, Mint Venture Partners, TONY Investment, Union Investment Partners, IBK, and the Korea Technology Finance Corporation (KIBO). Existing investors such as Atinum Investment, QUAD Investment Management, and KDB also participated with follow-up investments.  

With this latest round, Ubix Therapeutics has raised a total of KRW 63 billion (approximately $47.8 million) to date.  

Despite the biotech sector‘s subdued investment climate, Ubix Therapeutics managed to secure significant backing from institutional investors, underscoring the strength of its proprietary TPD platform technology, Degraducer®, and its consistent business achievements.  

Ubix Therapeutics is a trailblazer in leveraging TPD technology to selectively degrade disease-related proteins, focusing on developing treatments for refractory cancers. The company currently has a robust pipeline of eight novel drug candidates.  

Notably, UBX 303-1, a treatment for B-cell lymphoma, has received Phase 1 clinical trial approval from both the FDA and Korea’s Ministry of Food and Drug Safety. It is the only pipeline from a Korean company to enter global clinical trials using an independent TPD platform. Additionally, UBX-103, a prostate cancer treatment, was licensed to Yuhan Corporation in July under a KRW 150 billion (approximately $113.8 million) technology transfer agreement.  

Seo Bo-kwang, CEO of Ubix Therapeutics, stated, “The funds raised in this Pre-IPO will be allocated to clinical trials for UBX-303-1 in the U.S. and Korea, the expansion of our pipeline, technology transfers, and commercialization efforts. We are also expediting our preparations for an IPO, targeting the second half of 2025.”