D&D Pharmatech (347850.KQ), a developer of glucagon-like peptide (GLP)-1-based novel drugs, said Tuesday that it has received full payment for a 226.5 billion won ($165 million) third-party allocation convertible bond (CB).
The convertible bonds were issued with both a coupon rate and yield to maturity set at 0%, and include a one-year restriction on resale and conversion into common shares for the total amount subscribed by investors. The fundraising was led by DS Investment Partners, with participation from other domestic asset management firms and foreign investors including Weiss Asset Management and Tybourne Capital, exceeding the originally planned fundraising target.
With the funding completed as planned, D&D Pharmatech intends to accelerate clinical and R&D activities for its follow-up pipeline, including the fibrosis treatment "TLY012," which has been selected as a next-generation core growth driver. The company aims to begin TLY012 clinical trials for liver fibrosis treatment as early as the beginning of next year, while also pursuing the discovery of new pipelines based on its ORALINK platform and advancing the development of next-generation obesity treatments. D&D Pharmatech is also preparing to announce 48-week biopsy results from the Phase 2 clinical trial of its lead pipeline, the MASH treatment "DD01."
"The completion of this CB payment goes beyond simple fundraising. I believe it reaffirms the market's confidence in the clinical success potential of DD01 and the company's growth potential," D&D Pharmatech CEO Lee Seul-gi said. "Based on the positive Phase 2 clinical results of DD01 to be unveiled at the EASL Congress 2026 in late May, we will do our best to produce meaningful partnering outcomes in the global market."
