GNT Pharma Initiates IPO Process in Earnest... "Aiming for Year-End Listing"

Shinhan Financial Investment Selected as Lead Underwriter

[Asia Economy Reporter Jihee Kim] GNT Pharma announced on the 6th that it will actively proceed with the initial public offering (IPO) process aiming for a year-end listing. Shinhan Investment Corp. has been selected as the lead underwriter.

GNT Pharma is a venture company founded in 1998 by eight professors in the fields of neuroscience, pharmacology, ophthalmology, and cell biology. The company has focused on developing neuroprotective new drugs that can treat stroke and dementia, the leading causes of death and disability worldwide. Based on the theory that stroke and dementia progress through multiple pathways, the research team discovered the multi-target stroke drug 'Nellonemdaz' and the dementia drug 'Crisdesalazine,' both demonstrating excellent safety and efficacy in cultured cells and animal models.

Nellonemdaz is a neuroprotective drug that simultaneously controls NMDA receptors and reactive oxygen species, which induce neuronal cell death in stroke and cardiac arrest patients. Crisdesalazine is a multi-target drug that simultaneously eliminates reactive oxygen species and inflammation caused by microsomal prostaglandin E2 synthase-1 (mPGES-1), the main causes of Alzheimer's dementia and degenerative brain diseases.

Nellonemdaz demonstrated safety in Phase 1 clinical trials conducted in the United States and China. Additionally, in Phase 2 clinical trials for stroke conducted in China and South Korea, the drug showed significant improvement in disability compared to placebo in 447 patients receiving reperfusion therapy. Consequently, Phase 3 clinical trials targeting stroke patients in China who receive thrombolytic therapy within 8 hours are actively underway. In South Korea, a clinical trial plan has been submitted to the Ministry of Food and Drug Safety for severe ischemic stroke patients undergoing thrombectomy within 12 hours. New patents for Nellonemdaz's global market entry have also been filed in the United States and internationally (PCT).

Jedacure, containing Crisdesalazine, is a new drug for canine cognitive dysfunction syndrome. It is the first synthetic new animal drug approved by the Animal and Plant Quarantine Agency in South Korea as of February. GNT Pharma is currently filing patents in major countries including the United States, Europe, China, and Japan to enter the global market with Jedacure.

Clinical trials of Crisdesalazine in humans are also progressing actively. A Phase 1 early trial involving 32 healthy subjects has been completed, and the Phase 1 late trial involving healthy and elderly subjects is planned to be completed in the first half of next year. Subsequently, Phase 2 clinical trials for Alzheimer's dementia and amyotrophic lateral sclerosis will be actively pursued.

GNT Pharma is also advancing plans for a large-scale GMP production facility. This is due to the increasing demand for the commercialized new drug 'Jedacure Chewable Tablets' and the expectation that the final clinical trials for major pipelines will be completed within 3 to 4 years.

GNT Pharma intends to use the funds raised through the IPO to purchase land and complete the construction of production facilities.

Byungjoo Kwak, CEO of GNT Pharma, stated, “Our multi-target new drugs have shown efficacy in stroke clinical trials and have been launched as new drugs for canine cognitive dysfunction, marking the steady fruition of 23 years of research. We will focus all our capabilities on successfully completing the IPO with Shinhan Investment Corp., which has thoroughly reviewed our competitiveness and business potential, to launch Korea’s first blockbuster new drug worldwide.”

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