AprilBio Confirms IPO Price at 16,000 Won... General Investor Subscription on 19-20

[Asia Economy Reporter Lee Gwan-joo] AprilBio announced on the 18th that it has set the public offering price at 16,000 KRW following a demand forecast conducted with domestic and international institutional investors.

A total of 148 domestic and international institutions participated in the demand forecast, recording a competition rate of 14.43 to 1. A representative from NH Investment & Securities, which underwrote the listing, stated, "Many institutional investors positively evaluated AprilBio's unique technology and future growth potential," adding, "The recent instability in domestic and international stock markets, combined with a weakened investment sentiment toward biotech companies, significantly impacted the demand forecast. Considering this, the public offering price was set at a market-friendly level."

Founded in 2013, AprilBio is a protein (antibody) therapeutic development company targeting autoimmune diseases, inflammatory diseases, and cancer by utilizing the platform technology ‘SAFA (Anti-Serum Albumin Fab)’ that extends drug half-life and the ‘antibody library’ (HuDVFab, Human naive Fab antibody library) technology that discovers antibodies matching target antigens.

AprilBio plans to use the funds raised through this initial public offering (IPO) for research and development expenses and operational costs to generate multiple excellent pipelines annually. It will also use the funds to attract outstanding talent, laying the foundation for growth into a global new drug company. AprilBio CEO Sang-Hoon Cha said, "We will do our best to expand our research and development capabilities and accelerate new drug development through this listing," adding, "We promise to license out about one new drug candidate per year and repay investors with higher corporate value."

AprilBio is scheduled to enter the KOSDAQ market on the 28th after subscription by general investors on the 19th and 20th.

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