Pinetree Therapeutics, an emerging biotechnology company pioneering next-generation targeted protein degraders (TPD) to combat drug resistance in oncology and beyond, has secured Series A funding round, raising $17 million from new and existing investors.
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The investment 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.
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The proceeds will be used to leverage the Pinetree Therapeutics’s AbReptor antibody degrader platform to advance its novel multispecific TPD development programmes across multiple tumour types and targets in several oncology indications, with potential application in other therapeutic areas.
“We are pleased to announce the closing of this investment round to fuel Pinetree Therapeutics’s novel targeted degradation approach,” said Dr. Hojuhn Song, Founder and CEO of Pinetree. “Our best-in-class multispecific antibody platform, AbReptor, leverages a novel mechanism of action to degrade surface and extracellular proteins to improve outcomes across therapeutic 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.”
“We are proud to provide our continued support as part of an exceptional syndicate for Pinetree, whose promising AbReptor platform has yielded novel programmes with the potential to address unmet medical needs in people living with a range of treatment-resistant diseases,” said Yohan Kim, Executive Director of DSC Investment. “Recent data from Pinetree’s degrader programmes solidifies our confidence in the company’s approach, and we look forward to continuing our support for Pinetree and its platform technology and pipeline.”
AbReptorTM is a versatile antibody-based TPD platform that functions through co-engaging a surface receptor or extracellular protein of interest together with another proprietary receptor target. Pinetree is advancing multiple preclinical candidates derived from its AbReptor TPD platform with potential in oncology and other therapeutic areas, including candidate degraders indicated for TKI-resistant tumours, immune checkpoint inhibitor-resistant tumours, and other disease targets.
About Pinetree Therapeutics
Established to combat drug resistance in oncology and beyond, Pinetree Therapeutics’s platform technology, AbReptor, is a best-in-class, transformative, and modular antibody platform designed to degrade membrane-bound and extracellular proteins. Since its founding in 2019, Pinetree’s platform has brought about several compelling pre-clinical programmes in oncology and other therapeutic areas.
