Biopharm Solutions (CEO Choi Yong-moon), a new drug development company for the central nervous system (CNS) and rare diseases, announced on the 22nd that it has successfully completed the pre-IPO investment of KRW 75 billion.
This investment is in the form of a project fund managed by Hana Financial Investment, in which Hana Financial Investment, Hana Capital, Shinhan Capital, IBK Capital, KDB Capital, and Hana Savings Bank participated. The company explained that by attracting funds, investors were able to gain confidence in the technology, business feasibility, and future growth potential of Biopharm Solutions.
Currently, Biopharmaceuticals has completed Phase 2a clinical trial for Infantile Spasms on ‘JBPOS0101’, a self-developed candidate for epilepsy (epileptic) treatment, and is currently conducting Phase 2a clinical trial for status epilepticus. In the second half of this year, it plans to conduct phase 2b clinical trials for Lennox Gassto syndrome (LGS), another rare disease, and phase 2a clinical trials for Alzheimer’s disease.
The company recently started the phase 1 clinical trial of ‘JBPOS0501’, a follow-up candidate, for neuropathic pain. JBPOS0501 showed a wide range of pain-reducing effects and safety in preclinical rat (experimental rat) trials.
According to Biopharm Solutions, the company plans to use the funds raised through this investment to expand clinical development of a number of existing pipelines. It is also a strategy to spur new drug development and go public next year.
Biopharm Solutions CEO Choi Yong-moon said, “Through the expansion and development of our core pipeline, we will grow into a global company specializing in CNS and rare diseases.”
