GC Genome, Set to List in June, Targets Japan's $2.4 Billion Cancer Market

Securing GC Lymphotech and Additional Local Partners
Pioneering and Leading the Multi-Cancer Early Screening Market in Japan

GC Genome, a company specializing in liquid biopsy and clinical genomics, is entering the early cancer diagnosis market in Japan based on its proven technological capabilities in Korea.

According to GC Genome on the 29th, the company is in final negotiations with its key partner GC Lymphotech and additional local partners to launch its multi-cancer early screening test, "iCancerCH," in the Japanese market. The company is also preparing clinical trials for insurance listing in Japan. iCancerCH is a test that can screen for six major high-risk cancers?lung cancer, liver cancer, colorectal cancer, pancreatic and biliary tract cancer, esophageal cancer, and ovarian cancer?with a single blood draw. GC Genome has secured clinical specimen data from more than approximately 7,000 individuals in Korea, and the test demonstrates a sensitivity of 82.2% and a specificity of 96.2%.

Japan has the fourth highest cancer incidence rate in the world, with elderly people accounting for half of the total population. According to a 2021 report by Bank of America, Japan's early cancer screening market is valued at $2.42 billion (about 3 trillion KRW), which is assessed to have more than 2.5 times the growth potential compared to Korea.

GC Genome has already secured technological capability, validated data, and price competitiveness. Based on these strengths, the company plans to quickly enter the non-reimbursed market in the short term by focusing on regenerative medicine clinics and health screening centers, and to target the reimbursed market in the long term.

Kichang Seok, CEO of GC Genome, is speaking at the initial public offering (IPO) briefing held on the 23rd of this month at Conrad Seoul in Yeouido, Seoul. GC Genome

Kichang Seok, CEO of GC Genome, stated, "The early cancer diagnosis market in Japan is currently growing around microRNA and CTC (circulating tumor cell)-based technologies, but remains in an early stage with low technical and clinical maturity. As a result, there has been active adoption of technologies from local companies and overseas startups recently. GC Genome is the only company with technological capability, validated data, and price competitiveness, and we aim to become a game changer in the Japanese early cancer diagnosis market."

From the 19th to the 23rd of this month, GC Genome conducted a demand forecast for domestic and international institutional investors, setting the final public offering price at 10,500 KRW. A total of 1,692 institutional investors participated, applying for 1,642,409,961 shares. The competition ratio was 547.47 to 1. The total offering amount is expected to reach 42 billion KRW, and the market capitalization after listing is projected to be 248.3 billion KRW. The company plans to accept subscriptions for two days, from today until the 30th, and to be listed on the KOSDAQ market on the 11th of next month. The lead underwriter is Samsung Securities.

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