ORUM CLOSES $30 MILLION SERIES B FINANCING.

 
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Orum Therapeutics announced today an oversubscribed $30 million Series B financing. New investors, IMM Investment, Smilegate Investment, KTB Network, and Stassets Investment, join existing investors, InterVest and KB Investment/Solidus Investment in the financing. The proceeds of the financing will be used to expand Oromab, Orum's proprietary cell-specific, cell-penetrating antibody platform technology that targets undruggable proteins and delivers a variety of therapeutic payloads. The company is applying the Oromab platform to discover and develop novel therapeutics for cancer and rare diseases, both internally and with partners. The financing will also further expand Orum's R&D labs in Korea and Boston, where the company was recently accepted into a biotech incubator in Kendall Square, Cambridge.

A large number of important therapeutic targets are currently considered undruggable,' making drug discovery for these targets technically challenging, said Sung Joo Lee, Ph.D., Founder and CEO of Orum Therapeutics. By intracellular delivery of antibodies, our platform redefines what undruggable means.

Using the Oromab platform, Orum builds antibodies that bind cell-specific receptors and are internalized through receptor-mediated endocytosis. With Orum's proprietary design, these antibodies escape the early endosome into the cytosol. Once in the cytosol, the antibodies can be therapeutically active and directly target disease-causing proteins or deliver payloads. With the Oromab platform, Orum is...

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