Organoid Science (CEO Jongman Yoo), an innovative company specializing in organ analogues (organoids), attracted Series B investment worth 40 billion won following Series A investment of 8 billion won.
Organoid Science announced on the 13th that it had successfully completed a Series B round worth a total of 38.7 billion won. It was decided to increase paid-in capital by issuing new shares to institutional investors who participated in the investment.
The companies that decided to invest in the first round of Series B, in which Korea Development Bank, Asan Social Welfare Foundation, Dongwha Pharmaceutical, Wonik Investment Partners, and Timefolio Asset Management participated, were E& Venture Partners, Company K Partners, LB Investment, and Atinum Investment. There are a total of 5 places, including Aju Ivy Investment. Among these, four, excluding E&Venture Partners, which was named as a new investor, made follow-up investments in Series B following Series A.
It is believed that the value of the technology of Organoid Science, which is about to enter clinical trials for regenerative treatments, played a large role in the background of such continuous investment and the conclusion of this Series B round in a short period of time.
The industry’s interpretation is that the results are not just a reflection of high expectations as it has already shown gradual progress as a pioneer in the domestic organoid field. Currently, Organoid Science is in the final stage of non-clinical trials for intestinal organoids and salivary gland organoids and will enter phase 1 clinical trials within the year. The company plans to develop next-generation regenerative treatments, as well as discover organoid-based new drug candidates and pursue drug evaluation platform projects from various angles, demonstrating its true character as an innovative company specializing in organoids.
Jong-man Yoo, CEO of Organoid Science, said, “As our company’s slogan this year is ‘Go Global,’ with the completion of Series B, we have no shortage of preparations for overseas expansion as well as overseas investments and partnerships.” He added, “We have the world’s best technology, not just the best in Asia.” “I will prove this on a bigger stage,” he said with confidence.
Meanwhile, Organoid Science attracted 500 million won in seed investment in 2019, 8 billion won in Series A in 2020, and 18 billion won in Series B 1st round in 2021, and 21 billion won in Series B 2, 3, and 4 rounds this time. Including investment attraction, it attracted approximately 48 billion won in funds. Organoid Science plans to use the funds it has secured so far for research and development and pioneering the global market.
Source: Pangyo Techno Valley Official Newsroom
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