IntoCell, a Korean company specializing in antibody-drug conjugate (ADC) platforms, said Monday that it had filed a registration statement with the Financial Services Commission to list on the tech-heavy Kosdaq market and has initiated its public offering process.
IntoCell aims to list on Kosdaq in May, with a demand forecast period from April 29 to May 8, followed by a general offering from May 13 to 14.
IntoCell’s corporate identity
IntoCell’s corporate identity
IntoCell received an “A” in the technical evaluation for listing on Kosdaq last year. The company plans to use the public offering proceeds to strengthen R&D capabilities for new platform technologies, upgrade major pipelines, and build infrastructure.
IntoCell will offer 1.5 million shares in this listing, with a price of 12,500 won to 17,000 won ($8.5-$11.9) per share. The total offering amount is expected to be 18.7-25.5 billion won, with an expected market capitalization of 185.4-252.1 billion won. Mirae Asset Securities is the lead manager for the listing.
Celebrating its 10th anniversary this year, IntoCell is an ADC platform R&D company founded by CEO Park Tae-kyo, a co-founder of LigaChem Biosciences and a key figure in the development of the core platform technology ConjuALL.
IntoCell has signed a joint research agreement with Samsung Bioepis to validate ADC candidates. Under the agreement, IntoCell will supply its proprietary linker and drug technology, while Samsung Bioepis will manufacture and analyze ADCs for up to five targets.
“IntoCell's differentiated technological competitiveness with high stability and versatility of drug linkage will be positively evaluated by the market,” CEO Park said. “As the Kosdaq listing process gains momentum, we will focus on commercialization and pipeline development.”
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Kim Chan-hyuk kch@docdocdoc.co.kr
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