Invited as a 'Preliminary Unicorn' by the Ministry of SMEs and Startups
Showcased Immuno-oncology and Degenerative Brain Disease Treatment Technologies
FirstBio Therapeutics (CEO Kim Jaeun, hereafter FirstBio) announced on June 20 that it attended the opening ceremony of the Korea Technology Finance Corporation's Singapore branch held in Singapore on June 19, where it expanded exchanges with global investors and introduced its key pipelines and commercialization strategies.
This event was jointly hosted by the Korea Technology Finance Corporation and Korea Venture Investment to mark the opening of the corporation's first overseas branch and to support the overseas expansion of outstanding domestic venture companies as well as attract investment from foreign venture capitalists.
Among the six invited companies, FirstBio was the only new drug development company. It drew significant attention by presenting its major pipelines, including the immuno-oncology drug 'FB849' and treatments for degenerative brain diseases, as well as its strategic partnerships with Ligachem Bioscience, the Michael J. Fox Foundation (MJFF), and MSD, to approximately 100 local investors and stakeholders. Even after the IR pitching session, FirstBio continued one-on-one meetings with local Singaporean investment firms and global VCs to discuss practical possibilities for collaboration.
FirstBio's immuno-oncology drug 'FB849' began dosing its first patient in the United States in 2023, and its Phase 1/2 clinical trial is progressing smoothly. For combination therapy clinical trials, MSD is scheduled to provide the PD-1 antibody 'Keytruda' (ingredient name: Pembrolizumab) free of charge. The Parkinson's disease treatment 'FB-101', a c-Abl inhibitor, has completed a Phase 1 single ascending dose (SAD) trial in the United States.
Kim Jaeun, CEO, stated, "With this Singapore IR event as a starting point, we will officially begin global sales efforts to accelerate innovative drug development," adding, "This event was a valuable opportunity for FirstBio's technological capabilities and potential to be communicated more closely to global partners."
FirstBio was recognized for its growth potential and innovation by being selected as a 'preliminary unicorn' in the Ministry of SMEs and Startups' Global Unicorn Project in 2024, and participated in this event upon invitation from the institution.
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