RNA-based gene therapy developer Rznomics announced on the 23rd that it has successfully raised KRW 20.3 billion in a Pre-IPO funding round.

The round was led by KB Investment as the anchor investor, with additional participation from Yuanta Investment, the manager of the first K-Bio Vaccine Fund designated by the Ministry of Health and Welfare, and Samsung Venture Investment as new investors. Existing investors, Aon Investment and Quad Ventures, also participated through follow-on investments.

With the addition of this Pre-IPO round, Rznomics has now raised a total of KRW 60.9 billion, including KRW 81.2 billion secured through its Series C funding round in June 2022. Additionally, the company has received approximately KRW 9 billion in government research funding through various national projects.

Rznomics' proprietary platform is an RNA editing and correction technology based on RNA replacement enzymes. This groundbreaking approach rewrites entire RNA sequences, replacing the target RNA region with therapeutic RNA. Unlike conventional DNA or RNA editing technologies, Rznomics' platform does not require external proteins or cellular tools. Moreover, while base-editing technology focuses on correcting single-point errors, Rznomics’ platform can address a broad range of mutations with a single therapeutic agent.

The newly secured funding will enable Rznomics to accelerate its R&D efforts and further strengthen its financial foundation. The company plans to apply for a technology assessment for a special technology-based IPO listing in the first half of next year and submit a preliminary IPO application in the second half.

Notably, Rznomics is the first company to be selected as a National Strategic Technology firm by the Ministry of Science and ICT. It is also the only company to hold both the "Research/Development" and "Possession/Management" tracks for National Strategic Technology, positioning itself to leverage a special listing process for cutting-edge technologies.

Rznomics CEO Seongwook Lee said, “It is incredibly encouraging to see Rznomics' potential and value recognized despite the current challenges in the biotech market. This provides us with the motivation to accelerate our research and clinical development efforts.”

He added, “We are actively engaging with leading global pharmaceutical companies, and we have already completed technology validation through an MTA with one of them. We are now negotiating technology transfer agreements to develop treatments for unmet medical needs using the Rznomics platform.”