Immuno-oncology drug developer Selexin secures 33 billion KRW in Series B funding

[Asia Economy Reporter Jang Hyowon] Selecxine, a company developing immune checkpoint inhibitors, announced on the 29th that it has secured Series B funding worth 33 billion KRW from investors including Stonebridge Ventures.

This Series B round was led by existing investors such as Stonebridge Ventures, Stick Ventures, Medytox Venture Investment, Hanwha Investment & Securities, and SJ Investment Partners, along with new investors including Medici Investment, UTC Investment, K-Clavis, Hyundai Technology Investment, and Hi Investment Partners.

Selecxine previously raised approximately 23.7 billion KRW through Series A and bridge rounds in 2020. With this new investment, the company has achieved a total cumulative funding amount of 60 billion KRW. A representative from Selecxine stated, "For an early-stage company established less than four years ago to attract such a large-scale investment is a recognition from the market of the excellence of our proprietary antibody development platform technology and the anticancer therapeutics developed based on it."

Selecxine was founded in December 2018 by CEO Lee Junyoung, who holds a Ph.D. in Immunology from Pohang University of Science and Technology (POSTECH). The company specializes in developing immune therapeutic antibodies targeting immune regulatory cytokines and various immune regulatory receptors, based on its proprietary antibody development platform.

Recently, Selecxine secured foundational technology for predictive biomarkers targeting immune checkpoint inhibitors and is conducting joint research and development with leading hospitals in Korea. Through this, it is expected to play a significant role not only in enhancing the therapeutic response rates of its own immune checkpoint inhibitors but also those of existing immune checkpoint inhibitors.

CEO Lee Junyoung of Selecxine said, "This investment provides a stable foundation for the development of 'SLC-3010,' currently under development, and will greatly support the development of immune checkpoint inhibitor-specific biomarkers and the strengthening of subsequent pipelines. The upcoming preclinical and clinical trials for SLC-3010, scheduled to begin in the second half of this year, will also gain momentum."