Bridge Biotherapeutics Inc.

Bridge Biotherapeutics Inc. is a South Korean company founded in September 2015 by CEO Lee Jung-kyu as a new drug development firm. It listed on the KOSDAQ market on December 20, 2019, with Daishin Securities and KB Securities as lead underwriters. The company focused on developing novel therapeutics, including BBT-877 for idiopathic pulmonary fibrosis (IPF). After the Phase 2 trial of BBT-877 in IPF failed on August 7, 2025, the company changed its name to Parataxis Korea and pivoted its main business to cryptocurrency, specifically institutional Bitcoin holding and mining. In December 2025, it completed a capital raise of 15 billion Korean won through a third-party allotment rights issue. On August 20, 2026, trading was suspended following a court injunction request to halt the delisting decision. The company is currently listed on KOSDAQ but faces delisting risk due to accumulated losses from its drug development era.

Bridge Biotherapeutics Inc. was established in September 2015 by CEO Lee Jung-kyu as a South Korean new drug development company. The company focused on developing novel therapeutics, including BBT-877 for idiopathic pulmonary fibrosis (IPF). On December 20, 2019, it listed on the KOSDAQ market with Daishin Securities and KB Securities as lead underwriters. The company participated in the 2023 BIO USA conference to present its corporate overview. On August 7, 2025, following the failure of BBT-877 in Phase 2 trials for IPF, the company changed its name to Parataxis Korea and shifted its main business to cryptocurrency, specifically institutional Bitcoin holding and mining. In December 2025, it completed a capital raise of 15 billion Korean won through a third-party allotment rights issue. On August 20, 2026, the Seoul Southern District Court granted an injunction to suspend the effect of the delisting decision, and trading was halted. The company had accumulated significant losses during its drug development years, leading to its designation as an administrative issue and delisting risk.

• Founded as Bridge Biotherapeutics by Lee Jung-kyu

• Listed on KOSDAQ with Daishin Securities and KB Securities as lead underwriters

• Presented at BIO USA 2023

• Renamed to Parataxis Korea after BBT-877 Phase 2 failure; pivoted to Bitcoin business

• Completed 15 billion won third-party allotment rights issue

• Trading suspended following injunction against delisting decision

Transitioning from a clinical-stage biotech to an institutional Bitcoin treasury and mining platform.

• BBT-877

  Investigational drug for idiopathic pulmonary fibrosis; Phase 2 trial failed in 2025.

• Bitcoin treasury and mining platform

  Institutional Bitcoin holding and mining services.

1. 1Parataxis Holdingsparataxis.com
2. 2파라택시스코리아 - 위키백과ko.wikipedia.org
3. 3Bridge Biotherapeutics Inc. - Wikidatawikidata.org