The company will leverage its AbReptor protein degradation platform for advancing the programmes across various oncology indications with potential applications in other areas.
STIC Investments and DSC Investment co-led the investment round with additional funds from new investors including Atinum Investment, S&S Investment and Quantum FA.
They join existing investors DSC Investment, Schmidt, and SGI Partners in supporting Pinetree’s mission.
A versatile antibody-based TPD platform, AbReptor operates by co-engaging a surface-receptor or extracellular protein with another receptor target.
Since its inception in 2019, the platform generated several promising pre-clinical programmes in oncology and beyond.
Pinetree founder and CEO Dr Hojuhn Song said: “This technology enables the development of effective and versatile protein degrader molecules, including our lead preclinical degrader candidate for EGFR-mutated cancers, for which we recently announced an exclusive option and global license agreement with AstraZeneca.”
Pinetree is currently progressing multiple preclinical candidates derived from its AbReptor TPD platform.
These candidates show promise for treating TKI-resistant tumours, immune checkpoint inhibitor-resistant tumours, and other disease targets, indicating a broad potential impact in oncology and other therapeutic domains.
DSC Investment executive director Yohan Kim said: “We are proud to provide our continued support as part of an exceptional syndicate for Pinetree, whose promising AbReptor platform has yielded novel programmes with the potential to address unmet medical needs in people living with a range of treatment-resistant diseases.
“Recent data from Pinetree’s degrader programs solidifies our confidence in the Company’s approach, and we look forward to continuing our support for Pinetree and its platform technology and pipeline.”