# Pin Therapeutics

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/pin-therapeutics

- Industry: Biotechnology
- Headquarters: Seongnam, South Korea
- Website: www.pintherapeutics.com
- Total disclosed funding: $22M
- Latest round: Series B (Feb 21, 2022)
- Investors on record: 12

## About

Based in Seoul, South Korea, and founded in 2017, Pin Therapeutics, formerly known as Pin Therapeutics Korea, is a biotechnology company focused on the research and development of novel drugs, intended to destroy disease-causing proteins in the human body. The company has a subsidiary in South San Francisco, US, and operates a lab facility in Gyeonggi-do, South Korea. In February 2022, Pin Therapeutics raised KRW 20 billion in series B funding from returning investors DSC Investment, KB Investment, Korea Investment Partners, with participation from other investors. As of 2022, the company is being led by its founder and CEO, Hyeon-sun Jo.

Pin Therapeutics specializes in the development of TPD (Targeted Protein Degradation) drugs, capable of degrading and eliminating the pathogenic protein cells associated with cancer diseases, using UPS (Ubiquitin-Proteasome system) technology, which otherwise is not possible with traditional small molecule inhibitors. The company’s product offerings include the drugs, PROTAC (PROteolysis-TArgeting Chimera) and Molecular Glue Degrader, which are similar in the working mechanism, but different in their properties as well as its molecular structure.

Pin Therapeutics intends to use the February 2022 investment to fuel its research to launch a lead molecular glue program by 2023. The company also intends to get listed on the KOSDAQ in H2, 2024.

## Funding rounds

- Series B, Feb 21, 2022, $17M — Korea Development Bank, Korea Investment & Securities, KB Investment, Korea Investment Partners, DSC Investment, Company K Partners, We Venture Partners, DongKoo Bio&Pharma, Daewoong Pharmaceutical, Loftyrock Investment
- Series A, Aug 27, 2019, $5M — L&S Venture Capital, SJ Investment Partners

## Investors

- L&S Venture Capital (https://capitalatlas.ai/funds/l-s-venture-capital) — Series A
- SJ Investment Partners (https://capitalatlas.ai/funds/sj-investment-partners) — Series A
- Korea Development Bank (https://capitalatlas.ai/funds/korea-development-bank) — Series B
- Korea Investment & Securities (https://capitalatlas.ai/funds/korea-investment-securities) — Series B
- KB Investment (https://capitalatlas.ai/funds/kb-investment) — Series B
- Korea Investment Partners (https://capitalatlas.ai/funds/korea-investment-partners) — Series B
- DSC Investment (https://capitalatlas.ai/funds/dsc-investment) — Series B
- Company K Partners (https://capitalatlas.ai/funds/company-k-partners) — Series B
- We Venture Partners (https://capitalatlas.ai/funds/we-venture-partners) — Series B
- DongKoo Bio&Pharma — Series B
- Daewoong Pharmaceutical — Series B
- Loftyrock Investment (https://capitalatlas.ai/funds/loftyrock-investment) — Series B