Biotech startup Prazer Therapeutics has completed its Series B funding round. The funds will be used for new drug R&D and global commercialization.
This investment round was led by Johnson & Johnson Innovation – JJDC, Inc., the corporate venture capital organization of Johnson & Johnson, with participation from Premier Partners, K2 Investment, Mirae Asset Capital, Quad Asset Management, and STIC Ventures. In addition, Company K Partners, Kiwoom Investment, and Smilegate Investment, which invested in the Series A round, also participated as follow-on investors.
Fraser Therapeutics is a biotechnology company developing new drugs based on Targeted Protein Degradation (TPD) technology. While existing TPD technology only utilizes specific E3 ubiquitin ligases to degrade proteins, Fraser’s proprietary SPiDEM™ platform enables broader protein targeting by utilizing various E3 ligases. This overcomes the limitations of existing PROTAC and Molecular Glue-based technologies and enables the targeting of previously difficult-to-access targets such as protein aggregates and membrane proteins.
A representative of Fraser Therapeutics stated, “With this investment, we plan to accelerate the development and commercialization of new drugs by promoting joint research and technology transfer (licensing-out) through collaboration with global pharmaceutical companies at home and abroad.”
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