# SPHEBIO

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

- Industry: Biotechnology
- Headquarters: Pohang, South Korea
- Website: www.sphebio.com/
- Total disclosed funding: $3.4M
- Latest round: Series A (Aug 23, 2023)
- Investors on record: 4

## About

Based in South Korea, SPHEBIO focuses on creating advanced biomimetic materials utilizing cutting-edge three-dimensional (3D) cell culture technology to meet the needs of the biomedical industry.SPHEBIO, founded in 2020 in Pohang, South Korea, is dedicated to developing biomimetic materials. The company recently raised KRW 4.5 billion in a Series A funding round on August 31, 2023, with contributions from Korea Investment & Securities, Company K Partners, and Paratus Investment. The funding is aimed at supporting its ongoing innovations and market expansion.SPHEBIO specializes in the development of innovative biomimetic materials through advanced three-dimensional (3D) cell culture technology. Their core product offerings are centered around creating biomaterial production processes that mimic the natural behavior of living organisms, thereby addressing critical needs in the biomedical industry. Their applications are geared towards enhancing tissue modeling and regenerative medicine, with a particular focus on the pharmaceutical sector. The company's products are utilized by a diverse clientele that includes research institutions, pharmaceutical companies, and healthcare providers across markets in North America, Europe, and Asia. SPHEBIO's dedication to innovation is underscored by its ongoing research and development efforts, evidenced by its substantial intellectual property portfolio, which includes 38 patents and the publication of six scientific papers.SPHEBIO's revenue model primarily revolves around B2B transactions with pharmaceutical companies and research institutions. The company establishes partnerships to provide its biomimetic materials and technologies through structured agreements that may include licensing fees and joint research funding. SPHEBIO supplies its proprietary SPHRINTER equipment, which facilitates the production of 3D cell models, along with necessary GMP documentation and quality control standards. Revenue from these transactions is generated through one-time sales, recurring service fees, or ongoing support contracts, allowing SPHEBIO to maintain a stable income flow while expanding its presence in the biomedical field.With the recent Series A funding of KRW 4.5 billion raised in August 2023, SPHEBIO plans to accelerate its development of new biomimetic products aimed at enhancing regenerative medicine applications. The company is targeting expansion into North American and European markets by the end of 2024. The funding will be utilized to bolster research initiatives and optimize production processes for upcoming product launches.

## Funding rounds

- Series A, Aug 23, 2023, $3.4M — Korea Investment Partners, Company K Partners, Paratus Investment, Hisstory Venture Investment

## Investors

- Korea Investment Partners (https://capitalatlas.ai/funds/korea-investment-partners) — Series A
- Company K Partners (https://capitalatlas.ai/funds/company-k-partners) — Series A
- Paratus Investment (https://capitalatlas.ai/funds/paratus-investment) — Series A
- Hisstory Venture Investment (https://capitalatlas.ai/funds/hisstory-venture-investment) — Series A