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Wellmarker Bio Successfully Raises $16M in Series B Funding Round

2019-07-09 17:41

Wellmarker Bio Successfully Raises $16M in Series B Funding Round 

Wellmarker Bio, a predictive biomarker based anti-cancer drug development company has raised $16million in Series B funding round in 8th of July. The investors that participated in the Series B funding include Cytogen, a KOSDAQ listed company as a strategic investor (SI), HB investment, NH Investment & Securities, Sun & Tree Asset Management, BRIC Investment, Orbit Partners, and Mirae Asset Venture Investment as a Financial Investor (FI).

Among the five pipelines, first-in-class colon cancer treatment (WM-S1) is being discussed for global out-licensing in cooperation with Pharma Ventures (PV), a global expertise in pharma M&A and licensing based in UK. The funding will allow Wellmarker Bio to focus more on conducting clinical tests on colon cancer treatment both internally and externally, and carry out R&D activities such as immunotherapeutic drugs for lung cancer and other pipelines. “We are pleased to complete the Series B funding successfully in just over 2 and a half years since our foundation. Wellmarker Bio will continuously strive to become an expert in new drug development by promoting an open innovation.” said Dong Hoon Jin, CEO of Wellmarker Bio.

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