Onconic Theraputics, a company specializing in new drug development, has drawn large-scale investments through the freezing cold wave of bio-investment.

Onconic Theraputics announced on the 9th that it has successfully completed attracting 26 billion won worth of Series B investment. With this investment attraction, Onkonic Theraputics secured a cumulative 46 billion won in investment in a year following Series A last year.

In this round, existing investors Stone Bridge Ventures, Premier Partners, BNH Investment, and Daol Investment continued their follow-up investments following Series A. Korea Development Bank, K2 Investment Partners, Aju IB Investment, SL Investment, and DT&Investment joined as new investors.

With this investment, Onconic Theraputics plans to quickly terminate phase 3 clinical trials of “OCN-101” (formerly known as JP-1366), a new drug candidate based on P-CAB for gastroesophageal reflux disease, and push for approval of new drugs.

It also plans to complete phase 2 clinical trials of the next-generation PARP anticancer drug candidate “OCN-201” (JPI-547) that overcomes the resistance of existing PARP anticancer drugs through the PARP and Tankyrase double inhibition mechanism. Through this, we will focus our capabilities on global technology transfer.