Appclon Secures 22 Billion KRW Investment to Expand Funding for CAR-T Therapy R&D
[Asia Economy Reporter Lee Gwanju] Appclon announced on the 27th that it has decided to issue convertible preferred shares and private convertible bonds worth a total of 22 billion KRW to Quad Asset Management and Focus Asset Management, both specialized in bio and healthcare investments.
A company official explained, "With the ongoing Phase 1 clinical trial of the CAR-T therapy 'AT101' and the secured research and development funds for future pipelines, we expect the commercialization and R&D achievements of the CAR-T therapy to gain further momentum."
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He added, "Recently, interest and expectations for the CAR-T therapy market and Appclon's AT101 have been increasing domestically and internationally, and active participation from several domestic clinical institutions is also taking place."
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