ProEn Therapeutics, which develops antibody-drug conjugates (ADCs), said Monday that it has completed attracting a strategic investment from Kolmar Korea Holdings.

The investment amount was not disclosed per the agreement between the two companies.

The investment is part of an open innovation program organized by Kolmar Korea Holdings in collaboration with Hongneung Special Zone Project Group.

ProEn Therapeutics has the “ArtBody” platform technology that develops cancer antigen-specific binding proteins optimized for ADCs.

Aside from the recent strategic investment, Kolmar Korea Holdings will continue to promote joint development projects between its affiliate HK inno.N and ProEn Therapeutics as part of its open innovation collaboration.

Kolmar Korea Holdings and ProEn Therapeutics have also signed a memorandum of understanding to develop a CAR-T therapy for treating solid tumors and are discussing collaborating on additional joint development projects.

"Through this strategic investment and joint research agreement, we expect to discover competitive candidates and speed up R&D through the synergy of our technologies," ProEn Therapeutics CEO Lee Il-han said.

ProEn Therapeutics has been selected for the “Post Tips” project, which supports corporate scale-up to help excellent companies grow into unicorns and is receiving commercialization funding and corporate support programs from the Korea Advanced Institute of Science and Technology, which play the central role in the Hongneung Special Zone Project Group.