South Korean biotech startup TRIOAR focused on antibody-based drug development has successfully raised approximately USD 16 million(KRW 22.5 billion) in its Series B funding round. The latest round saw participation from new investors including Woori Venture Partners, Shinhan Venture Investment, Hyundai Technology Investment, Regent Partners, and Sneak Peek Investment. Follow-on investors included IMM Investment, LSK Investment, KB Investment, Kiwoom Investment, Shinhan Capital, and Jin & Investment Partners. With this round, TRIOAR’s total funding has reached approximately USD 29.5 million(KRW 41.5 billion).

The company noted that the Series B round is being conducted in multiple closings. Further investments from corporate venture capital (CVC) firms are expected as they evaluate TRIOAR’s technologies in conjunction with potential business collaborations, potentially increasing the total raise.

TRIOAR is currently developing two proprietary technologies: TROCAD™, an innovative antibody platform designed to significantly improve therapeutic index and TROSIG™, a next-generation linker-toxin system aimed at enhancing the stability and efficacy of antibody-drug conjugates (ADCs).

Both platforms are considered breakthrough solutions to overcome limitations in existing antibody and ADC therapies.

In June, TRIOAR was selected to present at the 2025 BIO USA conference in Boston, showcasing its platforms and pipeline. The company is actively in talks with both domestic and international pharmaceutical companies for potential collaborations and licensing opportunities.

Founded in 2021, TRIOAR has rapidly built a reputation for technological strength and execution. The company was named a “Baby Unicorn” by Korea’s Ministry of SMEs and Startups in 2023 and won the Seoul-BMS Innovation Square Challenge, gaining residency in Seoul Bio Hub. In 2024, it was also selected as a “D-Unicorn”, a designation for high-growth potential startups.

Cheon Ji-woong, Executive Director at Woori Venture Partners, which led the new investment, stated: “TRIOAR has the potential to become a game-changer in the antibody and ADC space. Having seen the rise of ADC pipelines during my time in global pharma, I find TRIOAR’s platform particularly exciting and transformative.”

Woosung Ho, CEO of TRIOAR, added: “This investment validates our technological innovation, scientific expertise, and market potential. We’ll use the funds to accelerate our pipeline and expand R&D efforts to demonstrate the competitiveness of our platforms. Ultimately, we aim to form global partnerships, pursue technology transfers, and enter international clinical trials.”

Looking ahead, TRIOAR plans to fast-track preclinical and clinical development of new ADC drug candidates using TROCAD™ and TROSIG™, while actively pursuing global market expansion and new partnerships.