Significant Investment and Accelerated Development of SIK3 Inhibitor

Coultreon Biopharma has successfully completed a Series A funding round, raising $125 million (approximately 170 billion KRW). The funds will be primarily used to advance the Phase 2 clinical development of COL-5671, a Salt-Inducible Kinase 3 (SIK3) inhibitor, which was in-licensed from Galapagos. The investment round was led by Sofinnova Investments, with participation from prominent global venture capital firms including Forbion, Novo Holdings, and Regeneron Ventures, demonstrating strong industry interest. This reflects confidence in the potential for COL-5671 to become an innovative oral therapy in the immunology market.

Galapagos' Spin-Out Strategy and Pipeline Potential

Originally part of Galapagos' SIK research program, COL-5671 was spun out into Coultreon in April 2025 to maximize development efficiency. Galapagos initially provided seed funding through a Convertible Note and has now become a strategic investor through equity in this Series A round. This spin-out model represents an efficient open innovation strategy, allowing large corporations to accelerate the development of promising assets while sharing financial risk. Coultreon now has the autonomy and resources to rapidly advance clinical trials.

Commercial Value in the Psoriasis and Ulcerative Colitis Markets

Preclinical data for COL-5671 have shown that it reduces pro-inflammatory cytokines, TNFα and IL-23, and activates the immune-modulatory factor IL-10, demonstrating a unique mechanism of immune homeostasis. Coultreon plans to initiate a Phase 2 clinical trial in patients with psoriasis and ulcerative colitis in the second half of 2026, based on safety data from an ongoing Phase 1 trial in healthy adults. In 2026, the global psoriasis market is estimated at $23.5 billion to $34.2 billion, and the ulcerative colitis market is estimated at $11 billion, both representing large markets with significant unmet medical needs. In particular, an oral drug with once-daily administration can significantly improve patient convenience compared to existing injectable therapies, offering a strong commercial advantage.

Changing Landscape of the Oral Autoimmune Therapy Market and Competitive Dynamics

The oral psoriasis market is currently dominated by BMS' TYK2 inhibitor, Sotyktu (deucravacitinib), and Amgen's PDE4 inhibitor, Otezla (apremilast), while the ulcerative colitis market is competitive with JAK inhibitors such as AbbVie's Rinvoq and S1P receptor modulators such as Pfizer's Velsipity. Coultreon's COL-5671 aims to differentiate itself through a novel SIK3 inhibition mechanism, potentially offering a new option for patients who do not respond to existing therapies. Other companies, such as Nimbus Therapeutics, are also developing SIK2 inhibitors. However, Coultreon plans to establish a leading position in the market by securing Phase 2 proof-of-concept (PoC) data by 2027. The large investment from global investors reflects their confidence in this differentiated mechanism and high market potential.