iQflow Submits Securities Registration Statement... Full-Scale Listing on KOSDAQ Market Begins

[Asia Economy Reporter Eunmo Koo] IoFlow, a wearable drug delivery solution specialist, announced on the 16th through a public disclosure that it has submitted a securities registration statement and officially begun the listing process on the KOSDAQ market.

IoFlow plans to offer 1.4 million shares in this public offering, with a desired price band of 18,000 to 21,000 KRW per share. The expected amount to be raised is between 25.2 billion and 29.4 billion KRW. The company aims to enter the KOSDAQ market within August after conducting demand forecasting and subscription targeting domestic and international institutional investors in early August. Hana Financial Investment is the lead underwriter for the listing.

IoFlow is a specialist company in wearable drug delivery solutions based on electro-osmotic pump technology. Since its establishment in 2011, it has secured the driving technology, which has been a technical challenge for wearable drug infusion devices, by applying low-power, high-performance electro-osmotic pump technology. Recently, applying this technology, it launched the ‘EOPatch,’ a wearable insulin patch pump product for patients with severe diabetes.

The EOPatch is the world’s second commercially successful disposable wearable insulin infusion solution developed by IoFlow. The company stated that compared to Insulet’s products, which have effectively monopolized the wearable insulin patch market since 2005, the EOPatch offers superior performance, convenience, and price competitiveness, leading to large-scale supply contracts with global big pharma companies. Recently, it signed an exclusive European sales contract worth approximately 150 billion KRW over five years with Menarini, one of the world’s top 50 pharmaceutical companies based in Italy, and has begun product supply negotiations with major medical device and pharmaceutical companies in the U.S., China, and other regions.

A company representative explained, “Most insulin infusion devices have been painful and inconvenient due to frequent injections, creating a high demand for new product development. The EOPatch is a disposable wearable product used for 3.5 days, offering excellent convenience and waterproofing, resulting in very high user satisfaction.”

IoFlow is also developing next-generation products such as a wearable artificial pancreas that automatically adjusts insulin infusion based on blood glucose changes, and an integrated wearable artificial pancreas combining continuous glucose sensors and pumps. Additionally, the company plans to diversify its product portfolio into various medical fields, including non-insulin patch pumps and wearable artificial kidneys, aiming to become a global leader in innovative wearable drug delivery solutions.

Kim Jae-jin, CEO of IoFlow, said, “We have already been recognized for our excellent technology by receiving an A grade in the technology evaluation. Based on world-class wearable medical device technology and know-how, we will create a new paradigm in the global market.”

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