# Idience Co.

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/idience-co

- Industry: Healthcare Specialists
- Headquarters: Seoul, South Korea
- Website: www.idience.com
- Total disclosed funding: $40M
- Latest round: Series B (Jul 8, 2022)
- Investors on record: 4

## About

Idience Co., Ltd. is engaged in developing innovative biopharmaceutical solutions, primarily focusing on oncology through its leading product, Venadaparib (ID11916), a PARP inhibitor designed to enhance cancer treatment. Founded in 2019, Idience Co., Ltd. is situated in Seoul, South Korea, specializing in biopharmaceuticals. The company was established by Aleksei Igorevich, who has experience in leading other ventures. In July 2022, Idience Co., Ltd. raised KRW 5 billion in series B funding from Yuanta Investment. The firm has a current valuation of KRW 177,176.471 million. Idience Co., Ltd. specializes in developing innovative biopharmaceutical solutions focused on oncology, with a primary emphasis on its key product, Venadaparib (ID11916), a PARP inhibitor. This medication is intended to improve cancer treatment outcomes by targeting DNA repair mechanisms in tumor cells. The company's clinical pipeline features various programs rigorously testing Venadaparib for numerous indications, serving healthcare institutions, oncologists, and patients in markets such as the United States and Europe, where a demand for advanced oncological therapies exists.In the most recent year, Idience reported a revenue of KRW 4,278.9 million with an EBITDA of KRW -9,246,524.6 million. The company generates revenue primarily through direct sales of Venadaparib, engaging in B2B relationships with healthcare providers and institutions, where transactions typically occur through agreements with hospitals and oncology clinics. Idience Co., Ltd. plans to utilize the funds raised in its July 2022 funding to support the launch of a new anticancer drug. The company aims to expand its reach into new geographic markets, particularly in the United States and Europe, enhancing patient access to its innovative therapies. The recent funding will facilitate these initiatives, strengthening its clinical pipeline and supporting new product development.

## Funding rounds

- Series B, Jul 8, 2022, $3.9M — Yuanta Investment
- Series A, Jan 13, 2021, $36M — Seoul Investment Partners, Yuanta Investment, Mirae Asset Capital, T.S. Investment

## Investors

- Seoul Investment Partners (https://capitalatlas.ai/funds/seoul-investment-partners) — Series A
- Yuanta Investment (https://capitalatlas.ai/funds/yuanta-investment) — Series A, Series B
- Mirae Asset Capital (https://capitalatlas.ai/funds/mirae-asset-capital) — Series A
- T.S. Investment (https://capitalatlas.ai/funds/t-s-investment) — Series A