KoreaTechToday - Korea's Leading Tech and Startup Media Platform
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government
No Result
View All Result
KoreaTechToday - Korea's Leading Tech and Startup Media Platform
No Result
View All Result
Home Medical

US-Based NeoImmuneTech Targets 96 Billion Won IPO in KOSDAQ

 827 total views,  1 views today

KoreaTechToday Editor by KoreaTechToday Editor
PUBLISHED: February 25, 2021 UPDATED: February 27, 2021
in Medical, South Korea
0
U.S.-based NeoImmuneTech (NIT) plans to raise around 96 billion won from IPO on the Korean Securities Dealers Automated Quotations (KOSDAQ) in March.
U.S.-based NeoImmuneTech (NIT) plans to raise around 96 billion won from IPO on the Korean Securities Dealers Automated Quotations (KOSDAQ) in March.

U.S.-based NeoImmuneTech (NIT) plans to raise around 96 billion won from IPO on the Korean Securities Dealers Automated Quotations (KOSDAQ) in March.

U.S.-based immunotherapy NeoImmuneTech (NIT) announced last Monday that it plans to raise around 96 billion won ($86.9 million) from its initial public offering (IPO) on the Korean Securities Dealers Automated Quotations (KOSDAQ) in March.

NIT said that Mirae Asset Daewoo and Hana Financial Investment would underwrite the deal. Under the plan, the biopharmaceutical company seeks to issue 15 million depository receipts in a price range between 5,400 won ($4.86) and 6,400 won ($5.76). On Wednesday, a book-building process for institutional investors determined the exact share price.

Established in 2014, NIT is a spinoff of Korea-based drug developer Genexine. Genexine owns a 25.31 percent stake in NIT, making it the largest shareholder. Based in Rockville, Maryland, the company has offices in Pangyo and a Research Institute in Pohang, South Korea.

“This IPO opportunity would allow us to further enhance our competitiveness by expanding our already robust clinical program for NT-I7.”

-Se Hwan Yang, Ph.D., President and Chief Executive Officer of NeoImmuneTech

Along with an executive team with extensive industry experience, Yang leads the company dedicated to expanding the field of immuno-oncology. Yang founded and invented NIT’s drug candidate NT-17 with the aim of enhancing immunity to infectious diseases.

According to NIT, NT-I7 (efineptakin alfa) is the only clinical-stage long-acting human IL-7. It is being studied in multiple clinical trials in solid tumors and infectious diseases (such as COVID-19) and as a vaccine adjuvant. Several of these studies are being conducted under clinical collaboration agreements with global industry leaders in immuno-oncology, including Roche, Bristol Myers Squibb, and Merck.

“We have full confidence in NT-I7’s potential to transform the treatment of cancer, as well as many other diseases where amplifying and improving the functionality of the T cells could provide greater clinical benefit,” said Yang.

Check out other must-read articles from KoreaTechToday:

  • Coupang Files IPO in US for Next-Generation E-commerce Experience
  • Carlyle Group Buys $200 Million Worth Shares of Kakao Mobility
  • North Korea Attempts Pfizer Server Hack for COVID-19 Vaccine Tech
  • COMEUP 2020: COVID-19 Startups: Fighting Against COVID-19
What’s your thoughts?
+1
0
+1
0
+1
0
+1
0
+1
0
+1
0
+1
0
Tags: 96 billion wonIPOKOSDAQNeoImmuneTechNIT

Related Posts

South Korea’s First Commercial-grade Satellite Nuri Rocket Lifts Off
U.S.-based NeoImmuneTech (NIT) plans to raise around 96 billion won from IPO on the Korean Securities Dealers Automated Quotations (KOSDAQ) in March.
South Korea

South Korea’s First Commercial-grade Satellite Nuri Rocket Lifts Off

May 26, 2023
CJ OliveNetworks
U.S.-based NeoImmuneTech (NIT) plans to raise around 96 billion won from IPO on the Korean Securities Dealers Automated Quotations (KOSDAQ) in March.
South Korea

Korean IT company CJ OliveNetworks fosters young creative talent through the ‘Local Pioneer School’ program

May 24, 2023
Power plant
U.S.-based NeoImmuneTech (NIT) plans to raise around 96 billion won from IPO on the Korean Securities Dealers Automated Quotations (KOSDAQ) in March.
South Korea

Korea Hydro & Nuclear Power plans world’s largest salinity gradient power plant in Donghae

May 16, 2023
South Korea announces $135.9 million worth financial support for local shipbuilders
U.S.-based NeoImmuneTech (NIT) plans to raise around 96 billion won from IPO on the Korean Securities Dealers Automated Quotations (KOSDAQ) in March.
shipbuilding

South Korea announces $135.9 million worth financial support for local shipbuilders

May 11, 2023
Hyundai Motors’ First EV-Dedicated Factory in Korea to Open Soon
U.S.-based NeoImmuneTech (NIT) plans to raise around 96 billion won from IPO on the Korean Securities Dealers Automated Quotations (KOSDAQ) in March.
Automotive industry

Hyundai Motors’ First EV-Dedicated Factory in Korea to Open Soon

May 11, 2023
6G
U.S.-based NeoImmuneTech (NIT) plans to raise around 96 billion won from IPO on the Korean Securities Dealers Automated Quotations (KOSDAQ) in March.
South Korea

Korea starts 6G-based personal aerial vehicle testing in Incheon

May 10, 2023
No Result
View All Result

Follow Us

FREE NEWSLETTER




PRODUCTS

Most Popular

  • 5 Best Korean to English Translation Apps

    0 shares
    Share 0 Tweet 0
  • Top South Korean Tech Products to Look Out for in 2021

    0 shares
    Share 0 Tweet 0
  • Netmarble subsidiary Metaverse Entertainment’s K-Pop virtual girl band MAVE has a smashing online debut

    0 shares
    Share 0 Tweet 0
  • Samsung to build memory chip based supercomputers, expects surpassing Taiwan Semiconductor Manufacturing Company

    0 shares
    Share 0 Tweet 0
  • 5 All-Time Best Rom-Com K-Dramas to Watch

    0 shares
    Share 0 Tweet 0
  • Top Nine Mobile MMORPG in South Korea for 2020

    0 shares
    Share 0 Tweet 0
  • Top Eight Promising EdTech Startup Companies in South Korea

    0 shares
    Share 0 Tweet 0
  • World’s First 5G Robot Café has a Seoul Opening

    0 shares
    Share 0 Tweet 0
  • Naver and Kakao Quicken Entry into Business AI Market

    0 shares
    Share 0 Tweet 0
  • Kakao Mobility and Kia collaborate to develop purpose-built vehicle for ride-hailing services

    0 shares
    Share 0 Tweet 0
  • About Us
  • Account Page
  • application form
  • Cookie policy
  • Default Redirect Page
  • homepage
  • Login
  • login form
  • LogOut
  • Newsletter
  • Privacy Policy
  • Register
  • Reset Password
  • Sample Page
  • Subscription Plan
  • Terms of Use
  • test
  • test
  • testpage
  • TOS Page
  • Visitor Inside User Page

Copyright © 2023 KoreaTechToday | About Us | Terms of Use |Privacy Policy |Cookie Policy| Contact : press@koreatechtoday.com |

No Result
View All Result
  • Topics
    • Naver
    • Kakao
    • Nexon
    • Netmarble
    • NCsoft
    • Samsung
    • Hyundai
    • SKT
    • LG
    • KT
    • Retail
    • Startup
    • Blockchain
    • government

Copyright © 2023 KoreaTechToday | About Us | Terms of Use |Privacy Policy |Cookie Policy| Contact : press@koreatechtoday.com |