L-BASE

Based in South Korea, L-BASE is a biopharmaceutical company specializing in the development of innovative cancer therapies, particularly targeting non-small cell lung cancer using peptide-based treatments that focus on Cancer-Testis Antigens. L-BASE, founded in 2015, is headquartered in Seoul, South Korea. The company focuses on developing therapeutic solutions for cancer, with a particular emphasis on innovative treatments. The founder, Do-yong Jeon, oversees the company's operations and strategic direction.

In May 2021, L-BASE raised KRW 2 billion through a funding round led by Daewon Pharmaceuticals, bringing the total amount raised to KRW 2 billion. The company has completed 3 deals to date, with its most recent funding round occurring in 2021. L-BASE specializes in the development of innovative cancer therapies, primarily focusing on its flagship product, the CAGE-derived peptide-based treatment known as LB217. This therapeutic approach targets specific cancer antigens, known as Cancer-Testis Antigens (CTA), exclusively present in cancerous tissues.

L-BASE's treatments inhibit autophagy in cancer cells while preserving it in healthy cells, addressing drug resistance commonly seen in existing cancer therapies. The company's primary focus is on non-small cell lung cancer (NSCLC), with ongoing clinical trials in Italy and plans for Phase 1 trials in the United Kingdom, slated for late 2025. L-BASE serves a global market, emphasizing regions where innovative cancer therapies are urgently needed, including Europe, North America, and parts of Asia. L-BASE conducts its business primarily through partnerships with pharmaceutical companies and clinical research organizations to facilitate the development and potential commercialization of its proprietary therapies.

The revenue model is based on strategic collaborations and licensing agreements, where partners fund clinical trials in exchange for product rights upon successful development. These transactions typically involve milestone payments tied to specific clinical and regulatory achievements and royalties on sales of any resulting therapies. For the most recent year, 2022, L-BASE reported a revenue of KRW 0. L-BASE plans to leverage the KRW 2 billion raised in May 2021 to further its research and development initiatives.

Future growth strategies include the advancement of LB217 and the exploration of additional new cancer therapies. The company also aims to expand into new markets, focusing on Europe and North America, while continuing its clinical trials in Italy and initiating Phase 1 trials in the UK by late 2025.