# NeoCannBio

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

- Industry: Healthcare
- Headquarters: Seoul, South Korea
- Website: www.neocannbio.com
- Total disclosed funding: $11M
- Latest round: Series B (Sep 26, 2023)
- Investors on record: 11

## About

Based in Seoul, South Korea, and founded in 2021, Neoken Bio Co., Ltd. operates as a medical cannabis company that specializes in raw material drug development and cannabis ingredient extraction using its technology. In September 2023, NeoCannBio raised KRW 10 billion in series B funding from new investors Bilanx Investment, Dong Hoon Investment, Prologue Ventures, and QUAD Asset Management, with participation from returning investors BM Ventures, HLB Investment, and Medytox Venture Investment. As of August 2022, the company is led by its CEO Ham-yeop Ham.

Neoken Bio Co., Ltd. develops various cannabinoid raw materials using only selected parts of the hemp metabolic pathway or microorganism-derived enzymes, as well as natural molecules. The company's microwave processing technology and equipment manufacturing patent extract and simultaneously obtain decarbonated processed products. It provides a standardized content analysis service. In addition, the company is also engaged in developing new drugs that can overcome intractable diseases and diseases caused by aging.

The company plans to use the series B funding to expand its hemp cannabinoid supplier business for the food and cosmetics industries.

## Funding rounds

- Series B, Sep 26, 2023, $7.4M — Dong Hoon Investment, Quad Asset Management, Medytox Venture Investment, BM Ventures, Bilanx Investment, HLB Investment, Prologue Ventures
- Series A, Jul 26, 2022, $3.4M — Hyundai Venture Investment, KT&G Corporation, HLB Life Science Co., Ltd., Medytox Venture Investment
- Seed, Nov 1, 2021 — Korea Tech Incubator for Startup, Medytox Venture Investment

## Investors

- Korea Tech Incubator for Startup — Seed
- Medytox Venture Investment (https://capitalatlas.ai/funds/medytox-venture-investment) — Seed, Series A, Series B
- Hyundai Venture Investment (https://capitalatlas.ai/funds/hyundai-venture-investment) — Series A
- KT&G Corporation — Series A
- HLB Life Science Co., Ltd. — Series A
- Dong Hoon Investment (https://capitalatlas.ai/funds/dong-hoon-investment) — Series B
- Quad Asset Management — Series B
- BM Ventures (https://capitalatlas.ai/funds/bm-ventures) — Series B
- Bilanx Investment (https://capitalatlas.ai/funds/bilanx-investment) — Series B
- HLB Investment (https://capitalatlas.ai/funds/hlb-investment) — Series B
- Prologue Ventures (https://capitalatlas.ai/funds/prologue-ventures) — Series B