What Curacle does

Curacle Co., Ltd. is a clinical-stage Korean biopharmaceutical company founded in 2016 and listed on KOSDAQ (ticker 365270), headquartered in Seocho-gu, Seoul. It develops first-in-class therapies that restore microvascular function in aging and chronic diseases by targeting endothelial dysfunction, operating two proprietary platforms: the SOLVADYS® small-molecule platform and the EAGLES® antibody platform accessed through its strategic partner MabTics (in which Curacle holds a 19.5% equity stake). Its nine-asset pipeline spans retinal diseases (Rivasterat/CU06, MT-103), renal indications (CU01, MT-101, CP01-R01 for veterinary CKD), neurodegeneration (CU71 BBB stabilizer for Alzheimer's), inflammatory bowel disease (MT-105), and antithrombotics (MT-201, MT-202), with Rivasterat receiving the WHO INN in May 2025 (first '-sterat' class endothelial dysfunction blocker) and MT-103 demonstrating superior preclinical vascular stabilization versus Vabysmo (faricimab).

The company operates a capital-light out-licensing business model, executing global technology-transfer deals with pharmaceutical partners who fund development and commercialization. The flagship MT-103 bispecific antibody was licensed to US NewCo Memento Medicines in May 2026 in a deal valued up to $1.07775B (approximately 1.56 trillion KRW), with Curacle's 50% share through MabTics amounting to approximately $538.87M in attributable deal value. Curacle received $4M in cash plus $0.75M in Memento equity as the upfront share, with $82.25M in development/regulatory milestones and $987.5M in commercial milestones remaining. To diversify revenue beyond milestone-dependent licensing, Curacle completed an absorption merger with Daesung Pharmtech on January 28, 2026, internalizing an active pharmaceutical ingredient (API) business that supplies raw materials, wholesale, and reagents to pharmaceutical manufacturers. Additional revenue streams include veterinary product sales upon CP01-R01 approval, future licensing of CU01, CU06, MT-101, MT-201 and MT-202, and API manufacturing scale-up via the April 2025 MOU with Daejung Pharma.

Name

Curacle

Legal name

Curacle Co., Ltd. (주식회사 큐라클)

Website

https://curacle.com

Company type

Public

Founded year

2016

Operating status

Operating

Headcount range

11–50 employees

Short description

Curacle is a clinical-stage Korean biopharmaceutical company developing first-in-class small molecule and antibody therapies that restore microvascular function in retinal, renal, neurodegenerative, and thrombotic diseases, monetizing via out-licensing to global pharma and a newly integrated API business.

Ownership category

akta.pro rank

Product category

Biopharmaceuticals

NAICS

Pharmaceutical and Medicine Manufacturing (3254), Pharmaceutical Preparation Manufacturing (325412), Biological Product (except Diagnostic) Manufacturing (325414), Drugs and Druggists' Sundries Merchant Wholesalers (424210)

SIC

Pharmaceutical Preparations (2834), Wholesale-Drugs, Proprietaries & Druggists' Sundries (5122)

akta.pro primary industry

Cardiology & Vascular Specialty Pharmaceuticals (HLAIACAG)

akta.pro secondary industries

Nephrology & Urology Pharmaceuticals (HLAIAAAM), Cardiometabolic Pharmaceuticals (Cardiovascular/Diabetes/Obesity) (HLAIAAAE), Drug Discovery (Target ID/Validation & Hit Discovery) (HLAIALAA)

Keywords

• Biopharmaceutical development
• Microvascular therapeutics
• Endothelial dysfunction drugs
• Drug out-licensing
• Clinical-stage biotechnology

Headquarters

HQ city

Seocho

HQ country

South Korea

HQ region

Asia

Offices2 records

Markets served

GTM type

B2B

Offering type

Services

Cost components

Technology or R&D, Personnel, Operations, Marketing or Sales, Infrastructure

Revenue model

1. Technology Licensing - MT-103: Up to $1.07775 billion deal with Memento Medicines including $8M upfront, up to $82.25M development/regulatory milestones, up to $987.5M commercial milestones. Curacle's 50% share amounts to $538.87M attributable revenue.
2. API (Active Pharmaceutical Ingredient) Business: Revenue from manufacturing and selling active pharmaceutical ingredients following merger with Daesung Pharmtech completed January 2026. Includes raw materials, wholesale, and reagent sales.
3. Future Pipeline Licensing: Planned out-licensing of remaining pipeline including CU01, CU06, MT-101, MT-201, MT-202. Revenue expected from upfront payments, milestone payments, and royalties.
4. Veterinary Pharmaceutical (CP01-R01): Companion animal CKD treatment expected to generate product revenue upon approval. Shorter development timeline than human pharmaceuticals.

Pricing tiers

Go-to-market motion2 records

Distribution channels3 records

Marketing channels5 records

Core offering

Curacle develops first-in-class drug candidates that restore microvascular function in aging and chronic diseases, focusing on endothelial dysfunction. Its pipeline includes oral small molecules (Rivasterat/CU06, CU01, CU71) and antibody therapeutics (MT-101, MT-103, MT-105, MT-201, MT-202) for retinal, renal, neurodegenerative, and thrombotic diseases, plus a companion animal CKD candidate (CP01-R01). The company monetizes these assets primarily through global out-licensing deals with pharmaceutical partners and an API supply business.

Product overview

Curacle is a biopharmaceutical company developing first-in-class therapies restoring microvascular function in aging and chronic diseases. The company operates two technology platforms: SOLVADYS® for small molecule therapeutics and EAGLES® (in partnership with MabTics) for biologics. The pipeline includes eleven candidates across retinal diseases (Rivasterat/CU06, MT-103), renal diseases (CU01, MT-101, CP01-R01), neurodegenerative diseases (CU71), and cardiovascular/thrombotic conditions (MT-201, MT-202), with MT-103 successfully licensed to Memento Medicines in a $1.08 billion global deal.

Differentiator

Problem solved

Functional benefit

Products and services

• Rivasterat (CU06)

Quantifiable outcome

• MT-103 demonstrated superior vascular stabilization and anti-angiogenic effects versus Vabysmo (faricimab) in head-to-head preclinical studies
• +4 more outcomes

Named customers1 record

Segments6 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Six partnerships are on record, tiered core and minor.

• Memento MedicinescoreOEM/ Whitelabel/ Licensing Partner · 1 May 2026US-based NewCo biotech established for MT-103 development. Licensing deal worth up to $1.07775B for worldwide rights to bispecific antibody for retinal diseases. Memento raised $93M Series A. Founded by Sera Medicines and RA Capital. Supported by Forbion, RA Capital, Avego BioScience Capital, Sanofi Ventures, Samsara BioCapital.
• MabTics Co., Ltd.coreStrategic or Co-development Partner · 1 July 2024Strategic partner for bispecific antibody development. Joint R&D agreement signed July 2024 covering 8 antibody pipeline programs including MT-101, MT-103, MT-201, MT-202, MT-105. Curacle holds 19.5% equity stake. Revenue from joint deals shared 50:50. MabTics operates EAGLES® antibody platform, spun off from KRIBB in 2022.
• Daesung Pharmtech (대성팜텍)coreStrategic or Co-development PartnerCompleted absorption merger in January 2026. Merge ratio 1.0000000:15.5139384. Increased 620,557 shares, capital increase of KRW 310,278,500. Absorbed to internalize API business and establish stable revenue base.
• Daejung Pharma (대정파마)minorStrategic or Co-development PartnerMOU signed in April 2025 for comprehensive cooperation in API business. Daejung Pharma management invested in Curacle, becoming strategic investor and major shareholder. Aims to create synergy in API business expansion.
• Boryung (보령)minorStrategic or Co-development PartnerMOU signed in September 2025 for CU01 Phase 3 development strategy and regulatory approval planning. R&D cooperation for clinical development advancement.
• Chungnam National University HospitalminorStrategic or Co-development PartnerMultiple preclinical studies conducted for MT-101 showing renal protection and fibrosis inhibition effects in kidney disease models.

Scale indicators14 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Chinook Therapeutics: Clinical-stage kidney disease biotech (acquired by Novartis in 2023 for up to $3.5B) that developed atrasentan for IgA nephropathy. Directly comparable to Curacle's CU01 program in diabetic nephropathy in target indication, mechanism, and trial design.
• Pliant Therapeutics: Clinical-stage biotech developing first-in-class therapies targeting integrin-mediated tissue fibrosis and vascular dysfunction. Directly comparable mechanism focus (vascular/endothelial pathology) and similar clinical-stage profile to Curacle's MT-101 and MT-202.
• Travere Therapeutics: Commercial-stage biotech focused on rare kidney disease, with Filspari (sparsentan) approved for IgA nephropathy. Direct therapeutic-area competitor to Curacle's CU01 and MT-101 in diabetic nephropathy and related renal indications.
• Roivant Sciences: Asset-centric biotech that develops and spins out individual drug candidates into subsidiary 'Vants' with dedicated funding — the same NewCo playbook Curacle used to launch Memento Medicines for MT-103. Comparable in building multiple platform-enabled programs around externally funded entities.
• BridgeBio Pharma: Multi-asset clinical-stage biotech operating multiple programs in parallel across rare and chronic diseases, with a similar strategy of advancing multiple first-in-class candidates until partnership or approval. Comparable in pipeline breadth, small team, and out-licensing orientation.
• Adverum Biotechnologies: Clinical-stage gene therapy biotech developing intravitreal therapies (ADVM-022/ixoberogene soroparvovec) for wet AMD and diabetic retinopathy. Directly comparable to Curacle's retinal franchise (CU06, MT-103) in target indication and clinical-stage status.
• Kodiak Sciences: Clinical-stage retinal disease biotech developing next-generation anti-VEGF therapies (KSI-301/tarcocimab) for wet AMD and DME. Directly comparable to Curacle's CU06 and MT-103 in target indication and competitive landscape within retinal therapeutics.

Emerging players

• Aerovate Therapeutics: Clinical-stage biotech developing AV-101 (inhaled imatinib) for pulmonary arterial hypertension, a disease rooted in vascular endothelial dysfunction. Comparable mechanism focus on vascular pathology and similar small-cap clinical-stage profile.
• Anthos Therapeutics: Clinical-stage biotech developing abelacimab, a Factor XI inhibitor for non-bleeding antithrombotic therapy. Directly comparable to Curacle's MT-201/MT-202 'non-bleeding antithrombotic' positioning in mechanism rationale and target indication.
• Redx Pharma: UK-listed clinical-stage biotech developing multiple first-in-class small molecules in oncology and fibrosis with a similar multi-asset, platform-driven model. Comparable in size, pipeline breadth, and out-licensing/partnering strategy.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@CURACLE_Official
• LinkedInlinkedin.com/company/curacle

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Curacle