Researcher Yeom Gwi-seok of Owl Bio is analyzing a diabetes treatment drug whose effects last for one month with a single dose. Provided by Owl Bio Co., Ltd.
OwlBio Co., Ltd. has secured a Series A investment worth 3 billion KRW to develop long-acting diabetes and obesity treatments.
This funding round follows the initial 500 million KRW investments each from Inlight Ventures and ES Investors in September last year, with an additional 2 billion KRW raised from Medici Investment in May this year, completing a total Series A investment of 3 billion KRW.
Based on this, OwlBio will further focus on research and development of diabetes and obesity treatments using drug delivery technology, aiming to complete an innovative product administered once a month to alleviate the inconvenience of dosing for diabetes and obesity patients.
OwlBio’s long-acting microsphere injectable technology is a pharmaceutical manufacturing technology that uses a drug delivery system composed of drugs with proven safety and efficacy and the biocompatible polymer PLGA, enabling drug efficacy to last for one month with a single administration.
CEO Tae-Gun Ahn stated, “We currently have a total of five pipelines including diabetes and obesity treatments, and we plan to promptly complete non-clinical trials and the manufacturing of pharmaceuticals for clinical trials using the Series A investment funds.”
Meanwhile, OwlBio, a company developing diabetes and obesity treatments using drug delivery technology, was established in February 2018 and succeeded in securing Series A investment within just over two years. The company was also selected for the 2018 TIPS program (Tech Incubator Program for Startup) led by private investment.
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