Seoul IR provided
Neoimmuntech, an immunotherapy development company, announced on the 26th that it has confirmed the public offering price at 7500 won, which exceeds the desired range, as a result of the demand forecast for institutional investors. Accordingly, the public offering amount is expected to be 112.5 billion won and the expected market capitalization after listing is 78.5 billion won.
In this demand forecast, 1496 domestic and foreign institutions participated, recording a competition rate of 1,374:1.
Neo-Imuntech is expected to list on the KOSDAQ market in mid-March after a general subscription on the 4th to 5th of next month.
Yang Se-hwan, CEO of Neo-Imüntech, pledged to increase the corporate value by strengthening the new drug development pipeline and focusing on global clinical and commercialization even after listing.
Founded in 2014, Neo-Imuntech is a biotechnology company that develops next-generation immune anticancer drugs centered on’T cells’, a type of immune cells in the body. Its headquarters is in Maryland, USA, and is an affiliate of Genexine, a KOSDAQ listed company.
The company explained that the main pipeline is’NT-17′, a new immuno-anti-cancer drug that introduced technology from Genexin, and that T-cell amplification and anti-cancer efficacy were confirmed in clinical results.
Based on this technology, the public offering funds will be used for research and development (R&D), operating funds, and facility funds.
The number of public offering stocks is 15 million DR (Securities Depository). The proposed public offering amount is up to 96 billion won.
The listing organizers are Hana Financial Investment and Mirae Asset Daewoo.
Reporter Kim Hyun-joo [email protected]
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