Pinetree Therapeutics, a biotechnology company developing next-generation targeted protein degraders (TPD) to combat drug resistance in oncology and beyond, announced the completion of a Series A funding round, raising $17 million from new and existing investors. This funding was co-led by STIC Investments and DSC Investment. New investors include Atinum Investment, Quantum FA, and S&S Investment, joining existing investors DSC Investment, Schmidt, and SGI Partners.
The proceeds will be used to leverage the Company’s AbReptor antibody degrader platform to advance its novel multispecific TPD development programs across multiple tumor types and targets in several oncology indications, with potential application in other therapeutic areas.
AbReptor is a versatile antibody-based TPD platform that functions by co-engaging a surface receptor or extracellular protein of interest together with another proprietary receptor target. And Pinetree is advancing multiple preclinical candidates derived from its AbReptor TPD platform with potential in oncology and other therapeutics areas, including candidate degraders indicated for TKI-resistant tumors, immune checkpoint inhibitor-resistant tumors, and other disease targets.
KEY QUOTES:
“We are pleased to announce the closing of this investment round to fuel Pinetree’s novel targeted degradation approach. Our best-in-class multispecific antibody platform, AbReptor™, leverages a novel mechanism of action to degrade surface and extracellular proteins to improve outcomes across therapeutics areas. This technology enables the development of effective and versatile protein degrader molecules, including our lead preclinical degrader candidate for EGFR-mutated cancers, for which we recently announced an exclusive option and global license agreement with AstraZeneca. With our first global partnership secured, this additional funding, and with the encouraging preclinical data generated to date from AbReptor, we are excited to continue applying our scientific approach to advance additional candidates in oncology and other indications.”
- Dr. Hojuhn Song, Founder and CEO of Pinetree
“We are proud to provide our continued support as part of an exceptional syndicate for Pinetree, whose promising AbReptor platform has yielded novel programs with the potential to address unmet medical needs in people living with a range of treatment-resistant diseases. Recent data from Pinetree’s degrader programs solidifies our confidence in the Company’s approach, and we look forward to continuing our support for Pinetree and its platform technology and pipeline.”
- Yohan Kim, Executive Director of DSC Investment
