Chabaksin Research Institute to Open IPO Subscription on 12-13th... Offering Price Set at 11,000 KRW

[Asia Economy Reporter Park Hyungsoo] Chabiontech affiliate Chavaccine Research Institute will conduct a subscription for general investors over two days from the 12th to the 13th. It will enter the KOSDAQ market on the 22nd.

Chavaccine Research Institute, a company specializing in immune adjuvant platforms, announced on the 11th that it conducted demand forecasting for institutional investors on the 5th and 6th and finalized the public offering price at 11,000 KRW.

Considering the recently sluggish IPO market situation and market volatility on the day of demand forecasting, the public offering price was finalized. The total public offering size is approximately 43.45 billion KRW. The market capitalization based on the public offering price is 290.7 billion KRW.

A representative from the lead underwriter Samsung Securities explained, "On the day demand forecasting closed, the KOSDAQ index fluctuated by about 5%," adding, "We decided the public offering price in consultation with the issuer to drive appropriate value through stock price increases after listing." He added, "Considering Chavaccine Research Institute’s excellent business strategy and technology transfer achievements based on proprietary core technology, there is some regret."

Chavaccine Research Institute has secured an immune adjuvant platform that exhibits higher efficacy than existing pharmaceutical companies’ immune adjuvants. It is proving technological scalability by expanding its pipeline to include cancer vaccines and immuno-oncology therapeutics. It is promoting commercialization by licensing technology or co-developing pipelines under clinical development with overseas companies. It aims to become a global leader in immune adjuvants by establishing a virtuous cycle structure that continuously invests sales from technology transfers into R&D.

Chavaccine Research Institute demonstrated in animal experiments that the immune response induction effect of the immune adjuvant ‘L-pampo™’ is superior to existing immune adjuvants. It successfully completed a technology transfer worth 203.1 billion KRW for immune adjuvants applied to cancer therapeutic vaccines. It won a government project worth 4.3 billion KRW to develop combination drugs overcoming the limitations of existing immune checkpoint inhibitors, and as a result of the research, presented anticancer efficacy research results at the European Society for Medical Oncology (ESMO) in September.

Yeom Jeongseon, CEO of Chavaccine Research Institute, said, "Based on independently developed immune adjuvant technology, we are commercializing pipelines with large market size and clear competitiveness," adding, "Through continuous research and development, we will transform into a future-oriented biotechnology company developing next-generation vaccines and cancer vaccines and immunotherapies for intractable cancers."

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