Avelos Therapeutics, a Seoul, South Korea-based biotechnology company specializing in new drug discovery and development, raised $8M in Series A funding.
The round was led by SV Investment, UTC Investment, Quad Investment Management, Timepolio Asset Management, Mirae Asset Venture Investment and Mirae Asset Capital.
The company intends to use the funds to expand its development efforts for targeted, biomarker-driven onco-therapeutics.
Led by CEO Dr. Young-Whan Park, Avelos Therapeutics is a specialized research and development (R&D) company focused on oncology drug discovery and development working with small molecule drugs for undruggable targets in the synthetic lethality, DNA damage response and cell cycle areas.
Though still in its infancy, Avelos Therapeutics has established meaningful research partnerships, including a collaboration for a first-of-its-kind drug program with the Research Institute of England.
The company plans to select preclinical candidates in the first half of 2023.
FinSMEs
22/08/2022