Zencurix "Ngenbio Approved for KOSDAQ Listing Preliminary Review... Begins Public Offering Process"

[Asia Economy Reporter Hyunseok Yoo] GenCurix announced on the 23rd that its affiliate NGENBIO has passed the preliminary review for listing on KOSDAQ.

NGENBIO is a precision diagnostics company engaged in research and development in the genomics field, reagent manufacturing, and software development. It was the first in Korea to receive product approval from the Ministry of Food and Drug Safety for next-generation sequencing (NGS) diagnostic products, and it is leading precision diagnostics technology by obtaining European certification (CE-IVD) for breast and ovarian cancer precision diagnostic reagents, the first in Asia.

GenCurix established NGENBIO as a joint venture (JV) with KT in 2015. It is currently the largest shareholder, holding 15.5% of NGENBIO’s shares.

NGENBIO previously received A and A grades in the technology evaluation in July and has begun the KOSDAQ listing process in earnest. It plans to submit the securities registration statement within the year and start the public offering process. Samsung Securities is the lead underwriter for the listing.

A GenCurix official stated, “Through NGENBIO’s KOSDAQ listing, smooth fundraising for promising businesses and continuous corporate growth will be possible,” and added, “We will actively support ensuring that the company is properly valued based on its outstanding technological capabilities.”