Liveome, a subsidiary of Medytox, said that it successfully attracted 7 billion won ($5.6 million) Series A funding from Lindeman Asia Investment Group.
Liveome is a microbiological research-based drug development company established in 2021 after licensing live biotherapeutic product (LBP) candidates and other technologies from Medytox.
The company has a dual LBP platform as its core technology. It derives candidate substances using the next-generation platform E-LBP that maximizes the therapeutic effect through the natural microbiome-based N-LBP platform and gene-editing technology.
With the funding, Liveome plans to spur clinical trials for LIV001, its inflammatory bowel disease candidate, and speed up the R&D of follow-up pipelines such as anticancer drugs.
The company has already completed the efficacy verification of inflammation suppression and immune response stabilization in animal model experiments. Since last January, it has also produced clinical drugs with global contract development and manufacturing organization (CDMO) companies, such as Luina Bio and Quay Pharma.
Liveome plans to complete the non-clinical trial of LIV001 this year and enter global clinical trials in 2023.
“The funding is a crucial stepping-stone for our global clinical trial of LIV001,” Liveome CEO Song Ji-yoon said. “The clinical preparation of LIV002, an anticancer drug under development as a follow-up pipeline, will proceed without any setback.”