Set to file an application for preliminary review for listing on KOSDAQ in the first half of this year​​

 

      
Y-Biologics passed the technical evaluation for IPO on the KOSDAQ under the exceptional technology scheme..

 

 

The company announced that it had passed the review grades of A and A from two evaluation agencies in the technical evaluation to be listed on the KOSDAQ under the exceptional technology scheme. In order for a company to be listed on the stock exchange under the conditions of having an exceptional technology, it needs to obtain grades of at least A and BBB from two evaluation agencies designated by the Korea Exchange.

 

 “Through this technical evaluation, the excellence of the immuno-oncology technology and bispecific T cell engager technology that our company has built has been recognized,” said Y-Biologics CEO Young Woo Park who added, “Based on this, we will swiftly proceed with the IPO procedure to be listed on KOSDAQ.”

 

Y-Biologics plans to submit a preliminary review application to be listed on the KOSDAQ in the first half of this year. Korea Investment & Securities is the underwriter.

 

Y-Biologics is a biotech company specializing in antibody drug R&D that was founded by Dr. Young Woo Park, who had led the research for antibody library and new antibody drug development at LG Life Sciences and Korea Research Institute of Bioscience and Biotechnology.

 

The company has developed a human antibody library for discovering new antibodies and a new format of CD3-based bispecific antibodies suitable for bispecific T cell engager technology.

 

Y-Biologics has also licensed out its technology recently. The company jointly developed an antibody-drug conjugate (ADC) as a new drug candidate that targets DLK-1 with LegoChem Biosciences and licensed it out to Pyxis Oncology for a total of USD 294 million. It has also licensed out a CD3xPD-L1 bispecific T cell engager to 3D Medicines, a Chinese biopharmaceutical company, for a total of USD 85 million, which includes milestone fees for clinical development approval, commercialization, and sales in China.

By Sung Min Kim, sungmin.kim@bios.co.kr