Bio startup SC Bio announced on the 4th that it has secured KRW 14 billion in Series B funding.

This round saw new participation from several institutions, including △Union Investment Partners △Hyundai Technology Investment △Pioneer Investment △SL Investment △Kolon Investment △KDB Infrastructure Asset Management △Enlight Ventures △Xquared, while existing investors △IM Investment Partners △Korea Investment Accelerator made follow-on investments.

Established in October 2021, SC Bio is a new drug development company possessing multiple core technologies necessary for the development of immuno-oncology and targeted cancer therapies. Its main pipeline, the Sirtuin (Sirt6) targeted anti-cancer drug SCB002, has demonstrated excellent efficacy and safety in animal models, completing preclinical trials. The company has also applied for an Investigational New Drug (IND) application for domestic Phase 1 clinical trials.

Another immuno-oncology pipeline, targeting SCB001, is also preparing for a domestic IND application next year. The SCB002 and SCB001 pipelines were selected as part of the Korea Drug Development Fund's (KDDF) 'New Drug R&D Ecosystem Construction Research (Preclinical Development) Project' for 2023-2024.

Park Joo-yeon, the senior executive at Union Investment Partners who led the investment, stated, "SC Bio is developing highly marketable targets through established research facilities and is considered a company with excellent personnel capable of commercializing these drugs."

Lee Chang-hoon, CEO of SC Bio, stated, "Thanks to market trust and technological prowess, we have completed a meaningful round," adding, "We will focus on clinical development and business expansion without setbacks using the new funds."

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