FNC Biotech

About FNC Biotech

FNC Biotech is a South Korean biotechnology company established in 2021, focusing on the development of first-in-class antibody therapeutics. The company targets diseases with significant unmet medical needs, particularly Idiopathic Pulmonary Fibrosis (IPF) and various cancers. FNC Biotech was founded by Su-Jae Lee, who also serves as the CEO and CTO. Lee, a former professor in the Department of Life Sciences at Hanyang University and president of multiple academic societies, started the company to translate laboratory ideas into tangible treatments for patients. The company's core technology revolves around its proprietary platform for identifying novel targets and creating human monoclonal antibodies. Its main focus is the Granulocyte Colony-Stimulating Factor 3 (CSF3) pathway, which it identifies as a 'super-regulator' of fibrosis. By targeting CSF3, FNC Biotech's leading drug candidate, FB-101, aims to inhibit the overactivation of the TGF-β pathway, which is crucial in the progression of fibrosis. Unlike existing treatments for IPF, such as pirfenidone and nintedanib, which only slow the disease's progression, FB-101 is being developed to fundamentally inhibit the disease's onset and potentially offer reversible treatment. FNC Biotech is currently in the preclinical stage, preparing for Phase 1 clinical trials. The company operates on a venture capital-backed business model and has successfully raised $5.1 million in a Series A funding round. Its investors include BSK Investment, Industrial Bank of Korea (IBK), Meritz Securities, Premier Partners, and the Tech Incubator Program for Startup (TIPS). FNC Biotech has established key partnerships with Inje University for cardiovascular precision medicine research and the Korea Institute of Radiological & Medical Sciences (KIRAMS) for anti-cancer drug development.