Bridge Biotherapeutics, Inc. announced a private placement of 694,444 common stock at a price of KRW 2,880 per share for gross proceeds of KRW 1,999,998,720 on January 12, 2024. The company is raising funding through third-party allotment paid-in capital increase method. The transaction has been approved by the board of directors of the company.

The transaction included participation from new investor, GPCR Therapeutics, Inc. The transaction is expected to close on January 22, 2024.