D&D Pharmatech Raises $51M in Series C Financing to Advance Phase 2 Clinical Trials for Neurodegenerative, Fibrotic, and Metabolic Diseases

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GAITHERSBURG, Md.–(BUSINESS WIRE)–D&D Pharmatech Inc., a clinical-stage biotechnology company focused on development and commercialization of revolutionary medicines, and parent company of U.S.-based Neuraly Inc., Precision Molecular, Inc., Theraly Fibrosis Inc., P4Microbiome and Valted Seq, today announced that it has completed a $51 million Series C round of financing led by Praxis Capital Partners, a private equity firm that focuses on growth acquisitions and investments in Asia; other investors included DS Asset Management, Kudos Ventures and Korea Investment & Securities. The new round of financing builds upon the $137.1 million the company secured in Series B financing in August 2019. The company is planning an initial public offering in Korea in 2022.
“We have been very impressed with the founders and team leaders of D&D and their subsidiaries, as well as their world-class drug development capabilities and ongoing clinical trials”
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“We are grateful for the ongoing support and confidence of our investors and excited to have had Praxis Capital lead this Series C financing,” said Yoo-Seok Hong, Chief Executive Officer of D&D Pharmatech. “We look forward to the ongoing advancement of our clinical candidates in a diverse range of diseases with significant unmet need and the expansion of our…