ProtierBiotech, a South Korean biotech developing next-generation cancer therapies based on a molecular glue platform, has completed a Pre-Series A funding round totaling approximately $2.45M (KRW 3.5 billion). The round drew participation from Hana Ventures, IBK Venture Investment, T Investment, Mirae Holdings, and Korea Investment Accelerator.

The company is focused on overcoming the limitations of conventional therapies through its proprietary molecular glue platform — an area attracting growing attention across the global pharmaceutical and biotech sectors. ProtierBiotech is simultaneously advancing two distinct drug development tracks: molecular glue-based antibody-drug conjugates (ADCs) and standalone molecular glue mechanisms, a combination the company sees as a key differentiator in the competitive oncology landscape.

Its lead programs are targeting multiple myeloma as the primary indication. The company has received notable external validation of its technology: it was selected for the second 2025 cohort of the Korea Drug Development Fund (KDDF) “New Drug R&D Ecosystem Building Research” program, and has since been named to the Scale-Up TIPS program under the Ministry of SMEs and Startups.

“This funding round is an important milestone that validates our molecular glue platform technology and drug development capabilities in the market,” said Hyuntae Kim, CEO of ProtierBiotech, in a statement. “We will focus on advancing our multiple myeloma treatment while actively pursuing license-out partnerships with global pharmaceutical companies, positioning ourselves as a competitive innovator in the global biotech arena.”ProtierBiotech plans to use the proceeds to accelerate entry into preclinical stages, expand its indication pipeline to include ovarian cancer, and continue to build out its broader drug development infrastructure.