AulBio Co., Ltd. Raises 3 Billion KRW in Series A for Developing Long-Acting Diabetes and Obesity Treatments

Researcher Yeom Gwi-seok of Owl Bio is analyzing a diabetes treatment drug whose effects last for one month with a single dose. Provided by Owl Bio Co., Ltd.

OwlBio Co., Ltd. has secured a Series A investment worth 3 billion KRW to develop long-acting diabetes and obesity treatments.

This funding round follows the initial 500 million KRW investments each from Inlight Ventures and ES Investors in September last year, with an additional 2 billion KRW raised from Medici Investment in May this year, completing a total Series A investment of 3 billion KRW.

Based on this, OwlBio will further focus on research and development of diabetes and obesity treatments using drug delivery technology, aiming to complete an innovative product administered once a month to alleviate the inconvenience of dosing for diabetes and obesity patients.

OwlBio’s long-acting microsphere injectable technology is a pharmaceutical manufacturing technology that uses a drug delivery system composed of drugs with proven safety and efficacy and the biocompatible polymer PLGA, enabling drug efficacy to last for one month with a single administration.

CEO Tae-Gun Ahn stated, “We currently have a total of five pipelines including diabetes and obesity treatments, and we plan to promptly complete non-clinical trials and the manufacturing of pharmaceuticals for clinical trials using the Series A investment funds.”

Meanwhile, OwlBio, a company developing diabetes and obesity treatments using drug delivery technology, was established in February 2018 and succeeded in securing Series A investment within just over two years. The company was also selected for the 2018 TIPS program (Tech Incubator Program for Startup) led by private investment.

This content was produced with the assistance of AI translation services.