Conext announced on the 16th that it has completed a Series C funding round totaling 15 billion won. Existing investor ES Investor participated in this round, while Premier Partners, Murex Partners, Su Investment Capital, and The Next Lab joined as new financial investors. Additionally, PharmaResearch, a company in the fields of regenerative medicine and aesthetics, participated as a strategic investor (SI), concluding the round.
In particular, the strategic participation of PharmaResearch, which possesses global business capabilities, is noteworthy in this investment round. The two companies have expanded their partnership beyond the existing technology transfer agreement for the core pipeline CNT201 into an equity-based collaboration. Through this, they plan to fully implement a cooperation strategy that combines Conext's recombinant protein R&D and production technologies with PharmaResearch's global commercialization capabilities.
The two companies plan to create synergy by strengthening cooperation in various fields, including the commercialization of CNT201, the expansion of indications, and the joint development of next-generation protein-based biopharmaceuticals.
Conext plans to focus the funds secured through this investment on advancing the development of its core pipeline, CNT201, and on research into new pipelines. It will swiftly complete the ongoing Phase 2 clinical trial in Australia for the treatment of Dupuitren contracture and begin preparations for drug production for global Phase 3 trials. Additionally, it plans to conduct early-stage clinical development to expand the indications for cellulite treatment in parallel.
The company plans to actively pursue global business development based on the results of its Phase 2 clinical trials, given the high global demand for treatments that complement the limitations of surgical therapy. In addition, Conext has been selected for the Seoul Biohub's '2026 BIO USA Support Program' and plans to participate in the 'BIO International Convention' to be held in San Diego, USA, this coming June to attract investment and expand partnerships with global pharmaceutical companies and investors.
Lee Woo-jong, CEO of Conext, said, “Completing Series C funding despite the recently contracted bio investment environment is a result of the market evaluating the technological capabilities and business potential of the company’s core pipeline,” adding, “We will cooperate with financial and strategic investors to successfully complete Phase 2 clinical trials in Australia and grow into a global bio company.”
"ES Investor Managing Director Moon Se-young explained, 'Conext's CNT201 is a candidate substance with differentiated competitiveness compared to Xiaflex, a treatment with the same mechanism that has already received FDA approval. We decided to make an additional investment based on the assessment that it has high growth potential in the global market, driven by improved formulation and clinical competitiveness.'"
Conext is a clinical-stage bio-venture developing specialty biopharmaceuticals aimed at improving quality of life based on microorganism-based recombinant protein production technology. The company aims to secure the capability to execute the entire new drug development process, from candidate discovery to clinical development, production, and global regulatory compliance.
Recently, there has been a growing trend in the biotech industry of expanding strategic investments and joint development collaborations based on the technological capabilities and commercialization potential of clinical-stage bio-ventures.
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