닫기

홈>News

News

게시물 상세
[Mergermarket] Novelty Nobility plans up to KRW 25bn Series B in 1H21 to aid R&D efforts
Date : 2020.02.13


 

 

Novelty Nobility plans up to KRW 25bn Series B in 1H21 to aid R&D efforts - CFO/ 12 FEB 2020

 

 

Novelty Nobility, a privately held South Korean biotech, is considering a Series B round in 1H21 to

raise KRW 20bn to KRW 25bn (USD 16.9m to USD 21m) to finance R&D planned for 1H21, said CFO

Jin Cho.


Novelty Nobility welcomes approaches from both financial and strategic investors in domestic and

global markets for the round, which will include a 25% stake dilution, the CFO noted.


Proceeds will go toward producing antibodies for the firm’s NN2101 treatment in ophthalmology

and completing pre-clinical trials of NN2101.


The drug maker’s ideal strategics include global pharmaceutical companies that develop anti-VEGF

(vascular endothelial growth factor) treatments, biotechs that specialize in eye diseases, or those

interested in developing Novelty Nobility ’s NN2101 treatment for eye disorders ? wet AMD (agerelated

macular degeneration) and DR/DME (diabetic retinopathy/diabetic macular edema) ? caused

by abnormal growth of blood vessels, Cho noted.


The company is also receptive to overseas partnership offers for co-researching treatment for TME

(tumour micro-environment), a cancer malignancy factor, for its NN3201/NN3202 (oncology)

treatment, he added.


Novelty Nobility first discovered its angiogenesis therapeutic antibody for ophthalmology, targeting

SCF (stem cell factor)/ c-KIT, via reducing new blood vessels or vascular leakage of retina, Cho

explained, adding the target is patent-protected in the US and South Korea.


Novelty Nobility ’s NN2101, anti-c-KIT treatment, is expected to enter pre-clinical trial in 2H20

either in the US or Europe, while its NN3201/NN3202 (oncology), SCF/c-KIT antibody-based

Antibody-Drug Conjugate (ADC), is still in the R&D stage, Cho said. It will confirm its candidates for

NN3201/NN3202 in 3Q20 and aims to enter pre-clinical study in the US or Europe in 1H22, he

added.


The global secondary treatment for anti-VEGF refractory patients forecasts to be USD 5bn by 2025

with CAGR of 2%, according to the company’s IR document. Novelty Nobility ’s anti-SCF/c-KIT

treatment could be an alternative drug for about 20%-40% patients who don’t respond to the

existing blockbuster anti-VEGF treatments (Eylea, Lucentis), since its VEGF selectively cures only

the abnormal blood vessels, Cho said.


In January, Novelty Nobility raised KRW 10bn in its Series A round from nine domestic investors

including Quad Investment Management, Medytox Venture, eye-related medicine developer

EyeGene [KOSDAQ:185490], BSK Investment and Widwin Investment, as announced. These

investors are expected to join the upcoming round, Cho noted.


CEO Park Sang Gyu, who is a professor at Department of Pharmacology at Ajou University, and the

company’s business executives collectively own around a 55% stake followed by financial investors,

Cho noted.


Novelty Nobility could consider exit options, both going public ? aimed for 2023 ? and merging with

a larger player, the CFO said. It would lean toward the latter option as novel drugs can be developed

and commercialized on a large-scale if met with appropriate partner, he added.


by Jenny Lee in Seoul

 

 

ⓒ2020 MERGERMARKET LIMITED. ALL RIGHTS RESERVED

To be used for the internal business of the assigned users only. Sharing, distributing or forwarding the entirety

or any part of this article in any form to anyone that does not have access under your agreement is strictly

prohibited and doing so violates your contract and is considered a breach of copyright. Any unauthorised

recipient or distributor of this article is liable to Mergermarket for unauthorised use and copyright breach.

Prev
Next [한경닷컴] 노벨티노빌리티, 100억원 규모 투자 유치..."안질환 치료제 개발 가속화"