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Biotech firm ViGenCell plans to list its shares on the local bourse in the third quarter of this year in an initial public offering, the company said Monday.
Commissioned by the bourse operator Korea Exchange, two independent expert groups have recently conducted a review of the company’s biotech assets, growth potential and business operations and have cleared it for the flotation, ViGenCell said.
Following the initial approval, the company plans to apply for the Korea Exchange’s preliminary examination next month, which is another requirement for the IPO. It aims to debut on the stock market in the third quarter.
ViGenCell is a biotechnology firm that develops immune cell therapy technologies. The company has developed a total of six clinical pipelines, based on three of their own platforms, by utilizing its T cell engineering technology. The company is also conducting a phase two clinical study of a treatment for NK/T-cell lymphoma.
Korean drug maker Boryung Pharmaceutical has a 29.5 percent stake in the biotechnology company.
By Shim Woo-hyun (ws@heraldcorp.com)
