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Digmbio has completed a Series A funding round of 12 billion won. This round was participated by Partners Investment, Meritz Securities, Samho Green Investment, Industrial Bank of Korea, Medytox Venture Investment, Cornerstone Partners, and Myriad Life Sciences.
DM5167, currently under development by Digmbio, is a second-generation targeted anticancer drug that selectively inhibits PARP-1. Digmbio claims that it effectively overcomes hematologic toxicity, a major limitation of existing first-generation PARP inhibitors. Phase 1 clinical trials are currently underway at Seoul National University Hospital, Bundang Seoul National University Hospital, Samsung Medical Center, and Severance Hospital.
Based on this investment, Digmbio plans to focus on completing the Phase 1 clinical trial of its flagship pipeline, the next-generation targeted anticancer drug 'DM5167', and begin full-scale non-clinical toxicity testing of its degenerative brain disease treatment drug 'DM3159'.
Kim Jeongmin, CEO of Digmbio, said, "Our anticancer drug candidate and degenerative brain disease candidate have already achieved global competitiveness and are attracting interest from many global pharmaceutical companies and biotech companies." He added, "The fact that we were able to successfully attract investment in a situation where the bio market is shrinking is a reflection of the high expectations for our research achievements and future growth potential."