Orum Therapeutics, a publicly traded biotechnology company pioneering degrader-antibody conjugates (DACs), has raised $100 million USD (145 billion KRW) through convertible preferred stock. KB Investment led the funding round, with participation from existing investors including IMM Investment, Woori Venture Partners, and Stassets Investment.

Among new investors are Weiss Asset Management, a Boston-based global investment firm, and Korea Investment Partners, a major institutional venture investor specializing in biotech. DSC Investment, Company K Partners, AON Investment, and DAYLI Partners also joined the round.

The capital will advance ORM-1153 and other pipeline programs while expanding Orum’s DAC platform capabilities beyond GSPT1. This marks a significant broadening of the company’s therapeutic scope.

“Our mission is delivering degrader-antibody conjugate therapeutics that combine powerful degrader payloads with antibody-targeted precision to improve cancer treatment and address other serious diseases,” said Sung Joo Lee, Founder and CEO of Orum. “This investment fuels our next growth phase as we prepare to advance therapeutic programs toward clinical evaluation, develop novel payloads, and build platforms that generate differentiated drug candidates across oncology and beyond. We’re grateful for the confidence shown by both new and returning investors who share our commitment to delivering meaningful patient innovation.”

The funding will expand Orum’s scientific and operational infrastructure as it advances targeted DAC programs built on selectivity, potency, and rational payload design—all critical to generating differentiated therapeutics for oncology and other serious diseases.

Orum’s proprietary Dual-Precision Targeted Protein Degradation (TPD²®) platform marries novel targeted protein degraders with antibodies’ precise cell delivery mechanisms. This creates innovative, first-in-class therapeutics that selectively target proteins within cancer cells. The company’s degrader payloads work through the E3 ubiquitin ligase pathway to specifically eliminate intracellular target proteins—delivering targeted destruction where conventional approaches often fall short.

Orum has established partnerships with pharmaceutical giants Bristol Myers Squibb and Vertex Pharmaceuticals. BMS-986497, emerging from the Bristol Myers collaboration, entered early-stage human trials last year for acute myeloid leukemia and higher-risk myelodysplastic syndromes.

The company’s lead candidate, ORM-1153, targets CD123—a protein overexpressed in most acute myeloid leukemia cases. Orum anticipates moving ORM-1153 into clinical trials by late 2026. The company’s pipeline also includes an experimental therapy for small cell lung cancer and neuroendocrine tumors.

Headquartered in Lexington, Massachusetts, with operations in Daejeon, South Korea, Orum went public on the Korean stock exchange in February 2024, raising 50 billion KRW ($34.5 million USD) through its initial public offering.