Qurucell, IPO Price Set at 20,000 Won

Qurocell, a company developing CAR-T therapeutics, has set its public offering price at 20,000 KRW and will be listed on the KOSDAQ market on the 9th of next month. This price is lower than the expected range of 29,800 to 33,500 KRW.

Qurocell announced on the 30th that it finalized the public offering price at 20,000 KRW, reflecting the results of demand forecasting. The total offering size was set at 32 billion KRW. The raised funds will be invested in the commercialization of the next-generation CD19 CAR-T therapeutic ‘Anbal-cel’ and the development of new pipelines for multiple myeloma, T-cell lymphoma, solid tumors, and more.

Kim Geon-su, CEO of Qurocell, said, "As a newly listed bio company, we have completed the largest public offering of the year," adding, "Qurocell, which pioneered the CAR-T therapeutic development market in Korea, will leverage its unique technology and know-how to become a competitive and innovative cancer immunotherapy specialist after listing."

The total number of shares offered by Qurocell is 1.6 million, with subscription open to general investors for two days from the 31st to November 1st. The company will be listed on the KOSDAQ market on the 9th of next month.

CAR-T therapeutics are cell and gene therapies that genetically modify T cells, immune cells isolated from a patient’s blood, to effectively eliminate cancer cells. They have shown high response rates and complete remission rates in treating blood cancers such as lymphoma, attracting global attention.

Qurocell is the first CAR-T development specialist company established in Korea. It recently completed Phase 2 clinical trials of Anbal-cel and plans to apply for new drug approval in September next year. Qurocell developed the OVISTM technology, the world’s first to remove immune checkpoint receptors that cause CAR-T cell dysfunction, thereby enhancing CAR-T cell function and improving therapeutic efficacy. OVISTM patents have been filed in 25 countries including Korea and overseas, with registrations completed in Korea, the United States, Europe, and Japan.

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