Naeseongam New Drug Candidate 'Pellemed' Raises 6.5 Billion KRW

Professor Kim Yong-chul, Gwangju Institute of Science and Technology

[Asia Economy Reporter Hwang Junho] Gwangju Institute of Science and Technology announced on the 7th that Pelemed, a new drug company founded by Professor Kim Yongcheol of the Department of Life Sciences, has attracted 6.5 billion KRW in Series A investment.

The investors participating in this round include Samho Green Investment, Spring Camp, DT&I Investment, LSK Investment, Daekyo Investment, and KDB San-eun Capital.

With this investment, Pelemed will officially begin overseas preclinical trials for resistant lung cancer, hematologic cancer, and pancreatic cancer, applying innovative new drug design technology that reduces risks from genetic mutation resistance.

PLM-101, which applies Pelemed's innovative anticancer technology, is a dual-function anticancer agent acting on new targets of acquired resistant cancer types and immune anticancer targets as a single-molecule therapeutic drug. It has strong therapeutic efficacy against intractable cancers induced by mutations and acquired resistance caused by repeated administration of existing targeted anticancer drugs.

The core of Pelemed's technology for developing treatments for intractable resistant cancers is its proprietary new drug platform, PeleSelect. PeleSelect is a precision drug design platform that predicts the structure of kinases activated by mutations and designs drugs with low mutation risk.

Professor Kim Yongcheol stated, "Pelemed aims to develop treatments for patients with intractable cancers who have no competing therapies due to mutations and acquired resistance to existing anticancer drugs," adding, "We expect that the target mechanism, which is clearly differentiated from existing treatments, and the mutation-safe approach will demonstrate excellent therapeutic effects."

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