Progen
ProGen is a Seoul-based clinical-stage biotech developing long-acting, multi-specific biologic therapeutics on its proprietary NTIG® platform, with lead GLP-1/GLP-2 dual agonist PG-102 in global Phase 2b for obesity and diabetes, monetized through pharmaceutical partnerships and licensing.
- Company typePrivate
- Founded1998
- HeadquartersSeoul, South Korea
- Headcount1–10
- GTM typeB2B
- OfferingServices
What Progen does
Progen Co., Ltd. (ProGen) is a clinical-stage South Korean biopharmaceutical company developing next-generation, long-acting, multi-specific biologic therapeutics built on its proprietary NTIG® (Neo Tri-ImmunoGlobulin) protein-engineering platform. The platform enables modular design of bispecific and multi-receptor fusion proteins, with non-cytolytic tri-immunoglobulin engineering optimized for stability, scalability, and extended dosing intervals. The company is targeting metabolic disease, musculoskeletal disorders, and type 2 inflammation, with lead asset PG-102 (a GLP-1/GLP-2 dual agonist) in Phase 2a-complete / Phase 2b-launched status for Type 2 diabetes, obesity, and MASH, and an oral formulation (PG-102 Pill / RPG-102 / RT-114) in Phase 1b via a partnership with NASDAQ-listed Rani Therapeutics for weekly oral dosing.
The pipeline extends to PG-110, an ActRII/myostatin multi-specific biologic for sarcopenia and obesity adjunct therapy, and PG-401, a TSLP/IL-4Rα bispecific for asthma, demonstrating platform leverage across therapeutic verticals. ProGen is headquartered in Seoul's Bio Innovation Park with a small (1–10 employee) team, listed on Korea's KONEX market since November 2023, and is pursuing a transfer to KOSDAQ. Revenue is generated exclusively through R&D collaboration and licensing agreements — including a contract with Chugai that produced $1.7M of Q1 2026 revenue — alongside strategic investments from Yuhan Corporation (the largest shareholder), JW Pharmaceutical, and Indonesia's PT Kalbe Farma, totaling approximately $35M of disclosed funding.
The business model is enterprise partnership-led: ProGen monetizes its platform through co-development deals, milestone payments, and licensing arrangements rather than direct commercialization. Customers are global and regional pharmaceutical companies (Yuhan, Rani Therapeutics, Chugai, JW Pharmaceutical, Kalbe Farma) rather than end patients. Distribution to patients will ultimately flow through partner-led commercialization. Marketing and credibility are built via peer-reviewed publication (Nature Communications), conference presentations (ADA, EASD, ENDO), and KOL-driven positioning under a CMO who previously chaired the Korean Diabetes Association.
Progen firmographics
Firmographics- Name
- Progen
- Legal name
- Progen Co., Ltd.
- Website
- https://progen.co.kr
- Company type
- Private
- Founded year
- 1998
- Operating status
- Operating
- Headcount range
- 1–10 employees
- Short description
- ProGen is a Seoul-based clinical-stage biotech developing long-acting, multi-specific biologic therapeutics on its proprietary NTIG® platform, with lead GLP-1/GLP-2 dual agonist PG-102 in global Phase 2b for obesity and diabetes, monetized through pharmaceutical partnerships and licensing.
- Ownership category
- akta.pro rank
Progen industry classification
Industry- Product category
- Biopharmaceuticals
- NAICS
- Biological Product (except Diagnostic) Manufacturing (325414), Pharmaceutical Preparation Manufacturing (325412), Scientific Research and Development Services (5417)
- SIC
- Pharmaceutical Preparations (2834), Biological Products, (No Disgnostic Substances) (2836)
- akta.pro primary industry
- Recombinant Protein Therapeutics (enzymes, hormones, growth factors) (HLAAAAAB)
- akta.pro secondary industries
- Engineered Protein Therapeutics (de novo/AI-designed proteins, novel scaffolds) (HLAAAAAJ), Protein Engineering & Directed Evolution Platforms (enzyme/therapeutic protein optimization) (HLAAAIAC), Endocrinology & Metabolic Specialty Pharmaceuticals (HLAIACAD)
Keywords
Where Progen is headquartered
LocationHeadquarters
- HQ city
- Seoul
- HQ country
- South Korea
- HQ region
- Asia
Offices1 record
Markets served
Progen business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales
Revenue model
- Collaboration and Licensing Revenue: Revenue from collaboration agreements with pharmaceutical partners such as Chugai, strategic partnerships with Rani Therapeutics for oral biologics, and R&D collaboration agreements with Yuhan Corporation
- R&D Collaboration Agreements: Strategic partnerships generating revenue through co-development arrangements, platform licensing, and milestone payments from pharmaceutical collaborators
Go-to-market motion1 record
Distribution channels1 record
Marketing channels4 records
Progen product offering
Product offeringCore offering
ProGen is a clinical-stage biopharmaceutical company developing long-acting, multi-specific fusion protein therapeutics built on its proprietary NTIG® (Neo Tri-ImmunoGlobulin) platform. Its lead asset PG-102 is a first-in-class GLP-1/GLP-2 dual agonist in Phase 2 development for Type 2 diabetes, obesity, and MASH, with an oral weekly formulation (PG-102 Pill) partnered with Rani Therapeutics. The company monetizes its pipeline and platform primarily through co-development partnerships and licensing agreements with pharmaceutical companies such as Yuhan Corporation and Chugai.
Product overview
ProGen is a clinical-stage biotechnology company that has developed a portfolio of next-generation biologic therapeutics built on its proprietary NTIG® (Neo Tri-ImmunoGlobulin) platform. The company's core products include PG-102 (a GLP-1/GLP-2 dual agonist for Type 2 diabetes, obesity, and MASH), PG-102 Pill (an oral weekly formulation using RaniPill® technology), PG-110 (an ActRII/myostatin multi-specific biologic for sarcopenia), and PG-401 (a TSLP/IL-4Rα bispecific for asthma). The platform enables long-acting, multi-target biologics designed to reduce treatment burden while improving efficacy and tolerability.
Differentiator
Problem solved
Functional benefit
Products and services
- PG-102 PG-102 is a first-in-class gut-targeted metabolic biologic and NTIG®-engineered GLP-1/GLP-2 dual agonist designed for monthly injectable dosing. It is being developed for Type 2 diabetes, obesity, and MASH, aiming to restore healthier body composition, improve gastrointestinal tolerability, and reduce chronic metabolic burden. Phase 2a has been completed for Type 2 diabetes and obesity, and a global Phase 2b trial has been initiated.
- PG-102 Pill (RPG-102/RT-114) PG-102 Pill is a first-in-class oral GLP-1/GLP-2 dual agonist enabled by the proprietary RaniPill® platform from Rani Therapeutics, designed for once-weekly oral dosing to achieve injectable-like systemic exposure. It is being developed for obesity, with Phase 1a completed and the program advancing into repeat-dose Phase 1b studies.
- PG-110 PG-110 is a next-generation musculoskeletal biologic designed for sarcopenia and obesity as adjunct therapy. It is an NTIG®-enabled ActRII/myostatin multi-specific biologic engineered to preserve muscle function and metabolic health, administered as a once-monthly subcutaneous injection.
- PG-401 PG-401 is a next-generation bispecific biologic for asthma, targeting TSLP signaling and IL-4Rα-mediated inflammatory amplification simultaneously. It is an NTIG®-enabled TSLP/IL-4Rα bispecific biologic designed for once-monthly dosing and is advancing toward lead candidate selection.
- NTIG® Platform (Neo Tri-ImmunoGlobulin) The NTIG® (Neo Tri-ImmunoGlobulin) platform is ProGen's proprietary biologics technology engineered for long-acting, multi-specific fusion protein therapeutics. It enables sustained signaling, multi-target flexibility, and precision Fc design for developing biologics across metabolic, immune, and cancer applications, and is offered to partners via licensing agreements.
Quantifiable outcome
- Up to 8.7% weight reduction achieved with weekly dosing over four weeks in Phase 2 study
- +2 more outcomes
Companies that use Progen
Customer profileNamed customers3 records
Segments3 records
Ideal customer profiles1 record
Progen technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Feature4 records
Progen partnerships and signals
Strategic signalPartnerships
Twelve partnerships are on record, tiered core and minor.
- Yuhan CorporationcoreYuhan invested ₩30 billion to become ProGen's largest shareholder. Comprehensive R&D collaboration agreement for innovative drug development including obesity, diabetes treatments, and immunotherapy development. Second project under comprehensive collaboration initiated November 2024 for immunotherapy. Yuhan also provides $15.5 million (22 billion KRW) funding along with JW Pharmaceutical.
- Rani TherapeuticscorePartnership to develop oral obesity treatment using ProGen's PG-102 with Rani's proprietary RaniPill® oral administration technology. The oral version (RPG-102/RT-114) completed Phase 1a and is advancing to Phase 1b studies. Rani is a NASDAQ-listed company.
- Korea Drug Development Fund (KDDF)minorProGen's dual-target obesity and diabetes treatment PG-102 selected as support project for phase 1 trial by KDDF, led by Director Park Yeong-min.
- AbTisminorMOU for joint research on bispecific antibody ADC development leveraging AbTis AbClick platform and ProGen NTIG platform for novel drug modality development.
- GI BiomeminorMOU signed to develop next-generation obesity treatment combining ProGen's multi-target antibody platform with GI Biome's gut microbiome expertise.
- Yuhan Corporation (PG-401)minorCollaboration on PG-401 asthma program using ProGen's NTIG platform for TSLP/IL-4Rα bispecific biologic development.
- Genenbio (GenNBio)minorJoint research agreement signed in 2019 to develop immunosuppressants and treatments for immune diseases.
- TJ BiopharmaminorListed as a strategic partner on ProGen's website for potential collaboration in biologics development.
- ImmuneOnciaminorLicense-in agreement for NTIG platform technology. ImmuneOncia secured exclusive non-licensing license to develop antibodies fused with NTIG platform for immunotherapy development.
- GI InnovationminorMOU signed for anti-aging research collaboration in May 2025 at GI Innovation's headquarters.
- LaNova MedicinesminorMOU for collaborative research and material transfer agreement signed May 2024 to develop next-generation ADC anti-cancer therapeutics using NTIG® platform.
- The Catholic University of KoreaminorCollaboration on MASH (IIT) Phase 2 study for PG-102.
Scale indicators6 records
Recent moves7 records
Expansion highlights8 records
Progen competitors and assessment
Company assessmentBroad incumbents
- Novo Nordisk: Maker of Ozempic/Wegovy (semaglutide), the direct comparator in ProGen's Phase 2b trial. Dominant incumbent in the GLP-1 obesity space.
- Eli Lilly: Global incumbent with tirzepatide (Mounjaro/Zepbound) and an extensive GLP-1 pipeline (orforglipron, retatrutide). Sets the efficacy benchmark ProGen's head-to-head design implicitly targets.
Direct peers
- Hanmi Pharmaceutical: Korean clinical-stage biotech developing HM15136 (Efpegerglucagon), a competing GLP-1/GLP-2/glucagon triple agonist for obesity. Most direct head-to-head competitor to ProGen's PG-102 in the dual incretin space.
- Viking Therapeutics: U.S. clinical-stage biotech advancing VK2735, a GLP-1/GIP dual agonist for obesity in Phase 2/3. Comparable in stage and therapeutic focus on next-generation metabolic peptides.
- Structure Therapeutics: Clinical-stage biotech developing oral small-molecule GLP-1 agonists (GSBR-1290). Comparable as a clinical-stage company pursuing differentiated obesity therapeutics with novel modality.
Emerging players
- PegBio: China-based clinical-stage biotech developing pegylated peptide therapeutics for metabolic disease, including obesity. Comparable stage and modality (long-acting peptide/protein biologics).
- D&D Pharmatech: Korean clinical-stage biotech developing dual- and triple-agonist peptides for metabolic disease. Comparable geography, stage, and incretin-modality focus.
- Metsera: Clinical-stage biotech developing amylin and GLP-1-based injectable and oral peptides for obesity. Comparable as a clinical-stage obesity biotech with long-acting biologic focus.
- Gubra: Danish clinical-stage biotech developing peptide-based obesity therapeutics including amylin analogs. Comparable as a clinical-stage biotech focused on metabolic disease peptide/biologic development.
Others
- Chugai Pharmaceutical: Japanese pharma company that is both a ProGen collaboration partner ($1.7M Q1 2026 contract revenue) and an established biologics developer. Listed as ecosystem partner given direct contractual relationship.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat5 records
Key risks5 records
Key highlights6 records
Customer concentration
Progen social profiles
Digital presenceProgen compliance and trust
Trust signalCompliance2 records
Progen financial estimates
Financial estimateRevenue estimate
Valuation estimate
Progen leadership team
Management profileNumber of profiles
Profiles6 records
Progen funding detail
Funding detailFunding overview
Funding rounds2 records
Investors5 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Progen M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Progen
What does Progen do?
ProGen is a clinical-stage biopharmaceutical company developing long-acting, multi-specific fusion protein therapeutics built on its proprietary NTIG® (Neo Tri-ImmunoGlobulin) platform. Its lead asset PG-102 is a first-in-class GLP-1/GLP-2 dual agonist in Phase 2 development for Type 2 diabetes, obesity, and MASH, with an oral weekly formulation (PG-102 Pill) partnered with Rani Therapeutics. The company monetizes its pipeline and platform primarily through co-development partnerships and licensing agreements with pharmaceutical companies such as Yuhan Corporation and Chugai.
Is Progen a public or private company?
Progen is a private company. It is classified as public and is currently operating.
When was Progen founded?
Progen was founded in 1998. It employs 1 to 10 people.
Where is Progen based?
Progen is headquartered in Seoul, South Korea, in the Asia region.
How does Progen make money?
Two revenue lines are on record. Collaboration and Licensing Revenue is the primary driver. The others are R&D Collaboration Agreements.
Who are Progen's main competitors?
Broad incumbents on record are Novo Nordisk and Eli Lilly. Direct peers are Hanmi Pharmaceutical, Viking Therapeutics and Structure Therapeutics. Emerging players are PegBio, D&D Pharmatech, Metsera and Gubra. Chugai Pharmaceutical is listed as an others.
Does Progen have an API?
No public API is recorded for Progen.
What industry is Progen in?
Progen's product category is Biopharmaceuticals. Its primary akta.pro industry code is HLAAAAAB, Recombinant Protein Therapeutics (enzymes, hormones, growth factors), with a secondary code of HLAAAAAJ, Engineered Protein Therapeutics (de novo/AI-designed proteins, novel scaffolds). Its NAICS code is 325414 and its SIC code is 2834.