# mustbio

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/mustbio

- Industry: Biotechnology
- Headquarters: Suwon, South Korea
- Website: www.mustbio.com/
- Total disclosed funding: $44M
- Latest round: Series C (Mar 13, 2026)
- Investors on record: 10

## About

Based in Suwon-si, South Korea, and founded in 2021, mustbio operates as a biotechnology company that develops new antibody drugs designed to treat cancer. In March 2026, mustbio raised KRW 35 billion in series C funding from new investors Atinum Investment and BNH Investment. Returning investors Korea Investment Partners, Premier Partners, Partners Investment, Korea Development Bank, AhnGook Pharm, WONIK Investment Partners, and Shinhan Capital.

mustbio is a drug and therapeutics developer specializing in cancer treatment. Furthermore, the company is an expert in new drug development, with diverse core technology facilities and successful technology export experiences to multinational pharmaceutical companies that are currently focusing on the development of anti-cancer drug technology based on the developed multi-specific antibody platform technology.

The company will use the March 2026 funding to support clinical progress and research and development initiatives.

## Funding rounds

- Series C, Mar 13, 2026, $24M — Korea Development Bank, Atinum Investment, Korea Investment Partners, Partners Investment, Shinhan Capital, WONIK Investment Partners, Premier Partners, BNH Investment
- Series B, Dec 8, 2022, $13M — KDB Bank, Korea Investment Partners, Partners Investment, WONIK Investment Partners, Premier Partners, AhnGook Pharm
- Series A, May 24, 2021, $8M — Korea Investment Partners, Partners Investment, Premier Partners, AhnGook Pharm

## Investors

- Korea Investment Partners (https://capitalatlas.ai/funds/korea-investment-partners) — Series A, Series B, Series C
- Partners Investment (https://capitalatlas.ai/funds/partners-investment) — Series A, Series B, Series C
- Premier Partners (https://capitalatlas.ai/funds/premier-partners) — Series A, Series B, Series C
- AhnGook Pharm — Series A, Series B
- KDB Bank — Series B
- WONIK Investment Partners (https://capitalatlas.ai/funds/wonik-investment-partners) — Series B, Series C
- Korea Development Bank (https://capitalatlas.ai/funds/korea-development-bank) — Series C
- Atinum Investment (https://capitalatlas.ai/funds/atinum-investment) — Series C
- Shinhan Capital (https://capitalatlas.ai/funds/shinhan-capital) — Series C
- BNH Investment (https://capitalatlas.ai/funds/bnh-investment) — Series C