ImmunoMet Therapeutics Raises $5.2 million in a Series A Financing > Investors & Media

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Investors & Media

ImmunoMet Therapeutics Raises $5.2 million in a Series A Financing

Date :
March 8, 2016


ImmunoMet Therapeutics Raises $5.2 million in a Series A Financing

Funding to Advance Oncology Development Programs Focused on

Cancer Metabolism and Immuno-Oncology


Jae Joon Kim Appointed to Board of Directors


Houston, TX/USA, Daejeon, ROK, March 8, 2016 – ImmunoMet Therapeutics, a biotechnology company

developing innovative drugs for the treatment of cancer, today announced that the Company has raised

$5.2 million in a Series A financing led by Mirae Asset Venture Investments (Mirae Asset) with participation

from Aju Tech, GNTech, and MetaVest. The primary use of these proceeds will be to fund the Company’s

research and clinical development programs, establish its worldwide headquarters in Houston, TX, and for

general corporate purposes. 


The Company also today announced the appointment of Jae Joon Kim, Director at Mirae Asset, to its Board

of Directors. Mirae Asset is one of Asia’s most prominent investors with $73 billion assets under management.


Sung-wuk Kim, CEO of ImmunoMet Therapeutics, said, “We are pleased to welcome Jae Joon Kim to our

Board of Directors and to announce the successful completion of this funding. This funding is an important

milestone for the Company, as we plan to advance our lead cancer metabolism compound, IM156, an

OXPHOS inhibitor, to Phase 1 clinical development in the second half of 2016. We are enthusiastic about the

potential of our pipeline, which also includes our immuno-oncology program that addresses the limitations

of current cancer therapies and offers hope of increased survival and quality of life for cancer patients.” 


Jae Joon Kim, Director at Mirae Asset, said, “I am delighted to join ImmunoMet’s Board of Directors, and I

look forward to working with their management team. I am excited about the potential of the Company’s

technology and its potential to improve treatments for life-threatening cancers.”



About ImmunoMet Therapeutics

ImmunoMet Therapeutics is a development-stage biotechnology company, focused on the development of

innovative oncology products to improve the quality of life and make a meaningful difference in the lives of

cancer patients. The Company, a spinoff of HanAll Biopharma, has the extensive research and development

experience of HanAll’s scientists in the areas of immune cell metabolism and immuno-oncology which

address the high unmet medical need to treat drug resistant and relapse cancers. The Company’s novel

technology is designed to disrupt cancer cell growth and enhance anti-cancer immunity and may be used in

a broad range of difficult-to-treat cancers. The Company’s lead compound, IM156, for the treatment of

glioblastoma (brain cancer) is expected to enter Phase 1 clinical development in the second half of 2016. 



About Mirae Asset Venture Investments

Mirae Asset Venture Investments is a member of Mirae Asset Finance Group. Mirae Asset Venture

Investments is a partner of enterprises of creativity, high technology, and potential, and a supporter of

invested enterprises to become a successful business by providing various consults such as business

management, M&A, re-structuring, financing, etc. Since 1997, Mirae Asset has become one of Asia's largest

independent asset managers and the world’s largest active investors in emerging market equities. Globally,

Mirae Asset has in excess of US$73 billion of assets under management (as of September 30, 2015) across a

diversified platform to offer market-leading investment services and solutions in traditional equity and fixed

income products, exchange traded funds and alternative strategies, such as real estate, private equity and

hedge funds. Headquartered in Korea, Mirae Asset has a presence in 12 countries worldwide, including

Australia, Brazil, Canada, China, Colombia, Hong Kong, India, Korea, Taiwan, United Kingdom, USA and

Vietnam. Mirae Asset includes over 120 investment professionals dedicated to asset management in Asia

and other emerging markets.







Sanghee Yoo:   

Joseph T. Schepers:  919-616-1923,  

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