SCM Life Sciences Submits KOSDAQ Securities Registration Statement... "Reattempting IPO"

[Asia Economy Reporter Yoo Hyun-seok] SCM Life Sciences, a bio company specializing in cell therapy development, announced on the 12th that it has submitted a securities registration statement to the Financial Services Commission and is re-pursuing its listing on KOSDAQ.

The company had previously decided to postpone its listing and submitted a withdrawal report for its initial public offering (IPO) during February to March, due to concerns over undervaluation amid the worsening COVID-19 situation domestically and internationally.

SCM Life Sciences is pursuing a technology-special listing and aims to strengthen its research and development competitiveness, accelerate clinical trials, and expand its global market presence through the listing, with a strategy to leap forward as a global cell therapy specialist company.

The total number of shares offered is 1.8 million, with a desired public offering price range of 14,000 to 17,000 KRW per share. Through this offering, the company plans to raise up to approximately 30.6 billion KRW. The raised funds will be used for research and development, clinical trials, production facility establishment, new technology adoption, and overseas affiliate investments, with a particular focus on securing new pipelines to create continuous growth momentum.

The company will conduct demand forecasting for institutional investors on the 2nd and 3rd of next month to finalize the public offering price, followed by general subscription on the 8th and 9th. The listing is scheduled for mid-June, with Korea Investment & Securities as the lead underwriter.

SCM Life Sciences is a bio new drug research and development specialist company focusing on ▲ next-generation high-purity stem cell therapies based on the Subfractionation Culturing Method and ▲ immuno-oncology drugs using dendritic cells and allogeneic CAR-CIK-CD19. It was established in 2014.

In particular, the core proprietary technology, the 'Subfractionation Culturing Method,' isolates and cultures high-purity, high-efficacy stem cells compared to existing methods for therapeutic development. The company holds patents for this technology not only in Korea but also in major countries including the United States, Europe, Japan, and China. Target diseases currently in clinical trials include chronic graft-versus-host disease (GVHD), acute pancreatitis, atopic dermatitis, and acute respiratory distress syndrome (ARDS). Additionally, through a technology licensing agreement and domestic clinical trials for spinal cerebellar ataxia stem cell therapy, the company plans to enter the brain nervous system disease market in the future.

In February last year, SCM Life Sciences established a joint venture in the United States with Genexine called CoImmune, Inc., securing immuno-oncology drug pipelines and a local cGMP manufacturing facility. Furthermore, in January this year, CoImmune acquired Formula Pharmaceuticals, Inc., an Italian next-generation CAR-T development company, integrating and strengthening its immuno-oncology platform. CoImmune’s main pipelines are the metastatic renal cancer treatment 'CMN-001' and the acute lymphoblastic leukemia treatment 'CAR-CIK-CD19.'

'CMN-001' recently received approval from the U.S. FDA for its Phase 2b clinical trial plan (IND). Clinical trials are set to begin in earnest at five U.S. hospitals (MD Anderson Cancer Center, Mayo Clinic, Massachusetts General Hospital, Fox Chase Cancer Center, Emory University Hospital). Domestic clinical trials are also planned in the future.

'CAR-CIK-CD19' is a next-generation CAR-T therapy that addresses the commercial limitations of existing CAR-T treatments, such as high production costs and side effects. Phase 1 clinical trials are currently underway in Italy, with plans to conduct clinical trials in the U.S. and Korea subsequently.

Meanwhile, SCM Life Sciences is developing treatments for COVID-19, sepsis, and acute respiratory distress syndrome (ARDS). It plans to submit a clinical trial application to the Ministry of Food and Drug Safety soon. Based on the mechanism of systemic inflammatory response syndrome (SIRS) suppression of its currently clinical frozen stem cell therapy 'SCM-AGH,' the company explains that it has a high potential to effectively control the 'cytokine storm,' one of the major causes of death from COVID-19.

Additionally, the company is conducting research and development on stem cell therapies using tissue engineering, including induced pluripotent stem cell (iPSC) therapy targeting type 1 diabetes, 'Cell Sheet' therapies for renal fibrosis and uterine wall fibrosis, and '3D Spheroid' therapies for burns and diabetic foot ulcers.

Lee Byung-geon, CEO of SCM Life Sciences, stated, "Through the listing, we will significantly strengthen our core research and development competitiveness while securing strategic pipelines that will lead the company’s new growth, aiming to become a global cell therapy specialist company." He emphasized, "We will focus on creating innovative outcomes in the treatment of intractable diseases and expanding our global market presence."

This content was produced with the assistance of AI translation services.