Sumitomo Mitsui’s DS Asset Management subsidiary backed the neurological and metabolic disorder drug developer in a round that will support clinical trials.

D&D Pharmatech, a diversified Korea-based drug developer backed by pharmaceutical firm DongKoo Bio&Pharma, has received $51m in a series C round led by Praxis Capital Partners.

The round also featured DS Asset Management, a subsidiary of financial services firm Sumitomo Mitsui Financial Group, in addition to venture capital fund Kudos Ventures and asset manager Korea Investment & Securities.

Founded in 2014, D&D owns several purpose-built companies focusing on treatments for conditions ranging from obesity and metabolic disorders like diabetes to…

Fernando Moncada Rivera

Fernando Moncada Rivera is a reporter at Global Corporate Venturing and also host of the CVC Unplugged podcast.