Korea's Arkgen Biosciences lands $6.7M Series A for multi-antibody cancer platform
What's the deal? Arkgen BiosciencesDealroom has a profile for this one. Try Dealroom →, a South Korean immuno-oncology startup, has raised 10 billion KRW (roughly $6.7 million) in a Series A round. The financing takes the company's total funding to 14 billion KRW, following an earlier 4 billion KRW pre-A round.
Who's backing it? Existing investor Mirae Science & Technology Holdings returned, joined by new backers including IBK, IBK Venture InvestmentDealroom has a profile for this one. Try Dealroom →, IMM InvestmentDealroom has a profile for this one. Try Dealroom →, Woori Venture PartnersDealroom has a profile for this one. Try Dealroom →, Korea Credit Guarantee Fund, Scale Up Partners, the Korea Innovative Medicines Consortium (KIMCo), Yuanta Investment, HuonsDealroom has a profile for this one. Try Dealroom →, and The Iroun Partners. The Iroun Partners was founded early this year by Kim Yong-ju, the founder of LigaChem Biosciences.
What's the endgame? Arkgen is building next-generation cancer treatments around its AMB (Arkgen Multi-Body) platform, which links antigen-binding sites to target up to five antigens at once. Its lead candidate, ARK102, is a T-cell engager designed to simultaneously target TROP2, HER2, and CD3.
ARK102 was previously selected for the Ministry of SMEs and Startups' Deep Tech TIPS programme, while follow-on pipeline ARK103 won backing from the Korea Drug Development Fund.
Where's the money going? Arkgen plans to spend the funds advancing the AMB platform and on pipeline research and business development. Chief executive officer Lee Seung-won called the round "a result of recognition of the AMB platform's technology and commercial viability," adding that the company will "actively expand joint research and licensing-out opportunities with global pharmaceutical firms."
Why now? Founded in July 2021, Arkgen is entering its sixth year. Its seven co-founders, including Lee, all previously worked together at LG Chem, and the company develops immuno-oncology treatments across two tracks: multi-antibody therapeutics and cancer vaccines.
The signal: At around $6.7 million, the round sits near the middle of the pack for deals of its type, at the 55.8th percentile. It reflects steady investor appetite for Korean biotech startups pursuing novel antibody platforms aimed at global licensing deals.
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