PineTree Therapeutics, Inc. Secures $23.5 Million of Series A1 Funding to Develop Cutting Edge Platform Technology to Create Therapeutic Assets for Unmet Medical Needs
Investment strengthens PineTree's ability to accelerate continued growth
Cambridge, Mass., June 7, 2022 /PRNewswire/ -- PineTree Therapeutics, Inc., an emerging leader in pioneering the development of disruptive therapies in Oncology, Immuno-oncology and other diseases, announced that the company has raised $23.5 Million for Series A1 funding. The investments, which will be used to advance our Oncology and Viral Diseases platforms, were made by InterVest, SK Securities, DSC Investment, J Curve Investment, Samho Green Investment, and SJ Investment Partners.
According to HoJuhn Song, Co-Founder and CEO of PineTree Therapeutics, the company has developed a highly differentiated platform to solve the world's difficult-to-treat diseases, which require unconventional approaches to deliver a new paradigm on providing real and meaningful benefits for patients. "Our approaches range from the degradation of drug resistant-oncogenic and immuno-oncology receptors, in situ cancer vaccination, to even anti-viral infection therapeutics, which is one of a kind and has never been tried before. Our leading bispecific antibody candidate is a first-in-class molecule in non-small cell lung cancer to degrade all tested EGFR mutants and expected to be dominant in the therapeutic field of EGFR TKI resistant tumors and EGFR mutated tumors."
TAER-TAB™, Tumor Associated Essential Receptor Targeting AntiBody, is a transformative antibody based receptor degradation platform that targets and potentially degrades drug-resistant or difficult-to-treat receptors present on many types of tumors and on different types of immune and disease cells. It has potential to generate many multivalent antibodies to degrade extracellular oncogenic receptors of interest as well as immuno-oncology antibodies to enhance adoptive anti-tumor immunity and prevent tumor recurrence.
PineTree Therapeutics is a pre-clinical stage Biotech company headquartered in Cambridge, MA and was founded in 2019. It has developed the TAER-TAB™ and ViTRAP™ technologies and is building a broad pipeline for hard-to-treat cancers and viral diseases, with an initial focus on oncology. For more information, please visit www.pinetreetx.com
Established in 1999, InterVest and its highly experienced investment professionals have been invested globally. 20 investment professionals are currently managing approximately $1 billion assets. For more information, please visit www.intervest.co.kr/html/main.html
SK Securities is one of Korea's premiere companies established in 1955, and has grown along with the development of the domestic financial industry. SKS has several businesses, which are of the nation's top quality, and are committed to contributing to the progress of Korea's capital market and securities industry by pursuing continuous innovation and differentiated financial capabilities. SKS Securities was awarded as No.1 in evaluations of various brands and services over several years and investment return on bonds were 9.3 billion won in 2021. For more information, please visit www.sks.co.kr/company_en/main/index.cmd
Established in 2012, DSC Investment has been one of the fastest growing and the most successful venture capital in South Korea. The firm gained its early reputation from successful invests into Biotech ventures such as ABL bio. Now not only maintaining its recognition as a renowned healthcare investor, but expanding its influence in Deep Tech and Consumer industry too. The company is expected to manage approximately $1.0B AUM this year and will to continue to invest in innovative entrepreneurs worldwide. For more information, please visit dscinvestment.com.
Contact
Youngbin Tak, MS, MBA
Project Manager and Strategic Alliance
[email protected]
SOURCE PineTree Therapeutics
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