On November 5, 2020 Genome & Company (314130, CEO: Bae Bae and Hansoo Park), a leading global immunotherapy drug company, reported that it submits a stock report to the Financial Services Commission for listing on the KOSDAQ on the 5th and initiates an IPO (Press release, Genome & Company, NOV 5, 2020, View Source [SID1234571040]). It plans to further strengthen its R&D competitiveness through listing on the KOSDAQ and focus on commercialization and overseas market expansion.
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The total number of shares offered by Genome & Company is 2,000,000 shares, and the scope of the offer price ranges from 36,000 won to 40,000 won. The raised funds are used for research and development, facility funds, and operating funds. In particular, it will focus on strengthening the competitiveness of each pipeline through clinical development, securing excellent researchers and research facilities, and promoting new and overseas projects.
The company conducts demand forecasting for institutional investors on the 30th and December 1st to determine the final public offering price, and accepts general subscriptions on the 7th and 8th of next month. It is expected to be listed within this year, and the subject of listing is Korea Investment & Securities.
Established in September 2015, Genome & Company is a research and development company for immunity and anticancer medicines and consumer products that utilizes microbiome based on antibody research and genome technology. In addition to the microbiome pipeline, with the aim of developing innovative new drugs to overcome unmet needs, which were insufficient in the existing market, it is also a new immune checkpoint inhibitor pipeline that utilizes its own novel target. It is expanding its territory.
In the case of immune anticancer microbiome treatment (GEN-001), a major pipeline, domestic patent registration was completed in August last year, and in December of last year, a technology transfer license agreement was signed with LG Chem in East Asia (Korea, China, and Japan) to commercialize it. Building a cooperative relationship. In October, the first phase 1 clinical trial was conducted for US patients, and the clinical trial began in earnest.
In August of this year, it acquired Scioto Biosciences, a US microbiome biotech, and secured a new global pipeline, the brain disease microbiome treatment (SB-121). Cyoto is planning to discover the optimal clinical design through cooperation with Genome & Company, and to begin phase 1 clinical trials in earnest in the first half of next year.
Bae Bae Bae, CEO of Genome & Company, said, "We decided that now is the right time to be listed on the KOSDAQ for strategic investment in clinical tasks, new business, and global market expansion for each pipeline we are pursuing." We will strive to increase our performance and maximize our competitiveness."
On the other hand, Genome & Company completed the KOSDAQ listing process in earnest as it passed the technical evaluation in July, applied Fast Track, and obtained preliminary examination approval in October. ‘Fast Track’ is a rapid transfer listing system that shortens the KOSDAQ preliminary examination period from 45 business days to 30 business days for companies with certain conditions in the KONEX market.