Galax (CEO Seok Cha-ok), a drug design AI platform company, announced that it has secured 42 billion won in Series B funding. This investment brings Galaxy's total funding to 68 billion won.
Galaxy has continued its R&D efforts, recognizing its technological competitiveness through its Series A funding of KRW 21 billion in 2022. Building on this accumulated R&D and business performance, the company has successfully completed this Series B round, once again demonstrating its technological prowess and growth potential.
This Series B round included participation from Yuanta Investment, the Korea Development Bank, InterVest, Daily Partners-NH Investment & Securities, Pathway Investment, SL Investment, Encore Ventures-TKG Ventures, Snickpick Investment, Korea Investment & Securities, and Mirae Asset Securities. InterVest has continued to provide follow-on investments since the seed round, while Daily Partners and Pathway Investment have also made additional investments since the Series A round.
Galax possesses AI technology for protein drug design as its core competitive edge, and is recognized as a company with world-class technology, particularly in de novo antibody design. De novo antibody design is a challenging field requiring the design of entirely new amino acid sequences and structures, and success stories in the global market are limited.
Recently, Galaxy succeeded in securing antibodies with high binding affinity using only small-scale designs, achieving a design success rate hundreds of times higher than previous models. By establishing an experimental and research infrastructure capable of rapidly validating AI-designed new drug candidates, Galaxy continues to enhance the precision and completeness of its new drug design platform.
On the business side, we are also expanding our domestic and international partnerships. We have signed a joint research agreement with global pharmaceutical company Boehringer Ingelheim, marking a full-fledged foray into the global market. We are also conducting joint research with domestic pharmaceutical and bio companies such as Celltrion, LG Chem, HanAll Biopharma, and YBioLogics.
Galaxy plans to strategically invest the funds raised through this Series B round into key R&D areas, including advancing its AI platform technology, expanding its R&D infrastructure, securing specialized talent, and conducting non-clinical validation of new drug candidates. Through these efforts, the company aims to generate tangible development results in new drug target areas previously difficult to access through traditional methods, thereby strengthening its global competitiveness.
Seok-Cha Ok, CEO of Galaxy, stated that the importance of protein drug design technology is rapidly increasing, and that the company will accelerate platform advancement and pipeline verification based on its accumulated technological prowess in the field of de novo antibody design to create meaningful results in the global market.
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