On May 25, 2023 Triore, a new drug development venture, reported that it has completed a Series A investment of 12 billion won through the issuance of convertible preferred shares (CPS).

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This Series A investment was led by LSK Investment, a venture capital firm specializing in biotech. Enlight Ventures, Kiwoom Investment, Meditox Venture Investment, and Shinhan Capital participated as new investors. KB Investment and Bokwang Investment joined as follow-up investors following their participation in the Pre-Series A round. This investment comes one year after the Pre-Series A round in 2022. The total amount of investment raised reaches 19 billion won.

Triore, established in 2021, possesses a technology (ReleaDom) that improves the drug delivery limitations of existing antibody therapeutics and antibody-drug conjugates (ADCs), and a linker-payload system (TROSIG) that can enhance the efficacy of ADCs.

Triore’s platform technology can be applied to various applications, including ADCs, multispecific antibodies, immune checkpoint inhibitors, and tumor microenvironment activators. Triore explains that when this platform technology is combined with existing drugs, it is expected to enhance efficacy and reduce toxicity. With this investment, Triore plans to secure even more refined platform technologies and novel drug candidates.

Yoon Doo-cheon, Director at LSK Investment, stated, "Triore’s ADC platform is a highly scalable technology applicable to various antibody targets," adding, "We determined that it has the potential to grow into a commercially viable new drug development platform company through partnerships with global big pharma firms."

Woo Seong-ho, CEO of Triore, stated, "This investment holds great significance considering the global biotech investment environment has been frozen since the COVID-19 pandemic," adding, "It is the result of recognition for Triore’s core platform technology, human resource expertise, and systematic commercialization strategy."

(Press release, TriOar Biotechnology, MAY 25, 2023, View Source;idx=3 [SID1234664806])