BRIEF-US and Korean investors help D&D Pharmatech to go big in Series B

D&D Pharmatech, the parent company of Neuraly, Precision Molecular and Theraly Fibrosis, has raised $137.1 million a Series B financing backed by US and Korean investors.

Proceeds will be used by Neuraly to advance a clinical candidate targeting neurodegenerative diseases into Phase II studies, by Precision Molecular to progress several neuroinflammation imaging agents into Phase I and Phase II trials, and by Theraly to take a preclinical candidate targeting fibrosis to the clinical stage.

The financing was led by USA-based Octave Life Sciences and included major Korean venture funds Smilegate Investment as co-lead, along with InterVest, Magna Investment and LB Investment, all Series A investors.