SCM Life Science "We Will Achieve Innovative Results in Intractable Diseases"...Listing on KOSDAQ This Month

On the 1st afternoon, an IPO press conference held at Hanwha Financial Center, Yeouido, Yeongdeungpo-gu, Seoul

Lee Byung-geon, CEO of SCM Life Science, is explaining about the company during an initial public offering (IPO) press conference held on the afternoon of the 1st at Hanwha Financial Center in Yeouido, Yeongdeungpo-gu, Seoul.

[Asia Economy Reporter Kum Boryeong] "We will achieve innovative results in the treatment of intractable diseases."

SCM Life Science, a bio company specializing in cell therapy development, held an initial public offering (IPO) press conference on the afternoon of the 1st at the Hanwha Financial Center in Yeouido, Yeongdeungpo-gu, Seoul.

Byung-gun Lee, CEO of SCM Life Science, stated, "Through the listing, we will strengthen our core research and development competitiveness and accelerate the clinical trials and commercialization of our main pipelines. At the same time, we will strategically invest in new pipelines that will lead the company's future growth to maximize corporate value and growth potential."

Founded in 2014, SCM Life Science deals with next-generation high-purity stem cell therapies based on the layer separation culture method, dendritic cells, and allogeneic CAR-CIK-CD19 immune anticancer agents (immune cell therapies). In particular, the layer separation culture method is evaluated as a technology that can separate and culture high-purity stem cells compared to existing methods, enabling the development of relatively more effective therapies.

The main pipelines consist of treatments for graft-versus-host disease (GVHD), acute pancreatitis, atopic dermatitis, acute respiratory distress syndrome (ARDS), liver cirrhosis, type 1 diabetes in the stem cell therapy field, and immune anticancer agents such as the metastatic renal cancer treatment 'CMN-001' and acute lymphoblastic leukemia treatment 'CAR-CIK-CD19'.

They are also developing treatments for acute respiratory distress syndrome, including COVID-19 and sepsis. Based on the systemic inflammatory response suppression mechanism of the currently clinical frozen stem cell therapy 'SCM-AGH,' they plan to apply for an Investigational New Drug (IND) application with the Ministry of Food and Drug Safety to develop a treatment that effectively controls the 'cytokine storm,' one of the main causes of death from COVID-19.

As a new pipeline, they are introducing mid-stage cell therapy technology for spinocerebellar ataxia, which is currently in phase 2 clinical trials in Japan and Taiwan. They will proceed with domestic clinical trials and commercialization. Starting with spinocerebellar ataxia, they plan to enter the neurodegenerative disease market and continuously expand pipelines for neurodegenerative diseases such as stroke, Parkinson's disease, and Alzheimer's dementia.

In February last year, SCM Life Science established a joint venture in the United States, CoImmune, Inc., with Genexine to add immune anticancer agent pipelines. In January this year, CoImmune acquired and merged with Formula Pharmaceuticals, Inc., an Italian next-generation CAR-T development company, integrating the immune anticancer agent platform.

SCM Life Science is pursuing a KOSDAQ listing through a technology special listing. The total number of shares offered is 1.8 million. The expected price range is 14,000 to 17,000 KRW per share. The proceeds will be used for domestic and overseas clinical trials, introduction of new technologies, investment in overseas affiliates, investment in GMP facilities and expansion of production facilities, and global market expansion. Demand forecasting for institutional investors will be conducted on the 2nd and 3rd, followed by price determination and general subscription on the 8th and 9th. The expected listing date is mid this month.