On February 24, 2024 Triore, a new drug development platform company, reported that it has secured ‘Pre-Series A’ investment. IMM Investment, KB Investment, and Bokwang Venture Capital participated as co-investors.

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According to Triore, since its establishment early last year, the company has developed platform technology capable of overcoming the limitations of antibody therapies and antibody-drug conjugates (ADCs). The plan is to apply this to derive next-generation drugs.

Woo Seong-ho, CEO of Triore, received his Ph.D. from Ohio State University in the United States and led a diabetes treatment development project at LG Life Sciences’ R&D center. In 2006, he joined Legochem Bioscience as a founding member and played a key role in the company’s KOSDAQ listing and technology transfer.

"A Triore official stated, ‘Combining the three core elements of the platform technology allows for application to various therapeutic approaches (modalities), such as ADCs, bispecific antibodies, and multispecific antibodies.’ He added, ‘We expect that combining it with existing drugs will increase efficacy and lower toxicity, thereby reducing development time and costs, while developing novel antibody drugs using novel targets will provide new treatment methods.’"

Moon Yeo-jeong, Managing Director at IMM Investment, said, "With the global antibody therapeutics market growing rapidly, I hope this investment will serve as a stepping stone for the company to grow into a global unicorn company in the future."

Woo Seong-ho, CEO of Triore, stated, "The secured investment funds will be used for research and development to prove the utility of the platform technology."

Triore is conducting joint research with Y-BioLogics, a company specializing in antibodies, to discover new antibodies. It is also conducting research on peptide-drug conjugates using Triore’s novel linker with C-BioMax, a company specializing in peptides.

(Press release, TriOar Biotechnology, FEB 24, 2024, View Source;idx=2 [SID1234664783])