UCI Accelerates Push for KOSDAQ Listing of Subsidiary... Expected Improvement in Equity Value

[Asia Economy Reporter Jang Hyowon] OncoPep, a bio-subsidiary of UCI that has recently been intensifying its green hydrogen business, announced on the 28th that it plans to list on KOSDAQ next year.

OncoPep is a U.S.-based cancer treatment development company with BioX, a UCI subsidiary, as its largest shareholder. The ongoing pre-IPO process worth 10 billion KRW, targeting global multinational companies and domestic institutional investors, is progressing smoothly.

If OncoPep undergoes a technology evaluation in the first quarter of next year and lists on the KOSDAQ market in the second half through the technology special case system, it is expected that not only BioX, the largest shareholder, but also UCI’s equity value will be highlighted.

OncoPep is currently conducting a technology partnership with MANA Therapeutics, led by CEO Dr. Martin B. Silverstein, formerly of the major U.S. biotech company Gilead Sciences. Significant achievements are anticipated, including the addition of an Adoptive T-Cell Therapy pipeline using PVX-410 and entry into Phase 2 clinical trials with the U.S. Food and Drug Administration (FDA) for metastatic triple-negative breast cancer.

OncoPep, a company specializing in immune cancer vaccine development, holds encouraging Phase 1 clinical trial results from the U.S. FDA for three pipelines including the immune cancer vaccine ‘PVX-410.’ It is the first U.S.-native new drug development company to challenge a KOSDAQ listing in Korea.

In Phase 1 clinical trials using the immune cancer vaccine pipeline ‘PVX-410,’ conducted jointly with global pharmaceutical companies Merck, AstraZeneca, and Celgene, safety was confirmed along with an increase in T-cell count?key to immune response?by up to 140 times in multiple myeloma and triple-negative breast cancer.

A company official stated, “Immunotherapy is currently a major trend in the global cancer treatment market. OncoPep’s cancer vaccine educates T-cells to recognize cancer cells, helping immunotherapies attack cancer more effectively, and by imprinting cancer antigens into immune memory, it is expected to prevent recurrence even after complete cancer remission, highlighting its growing importance.”

He added, “With a solid research and management team leading OncoPep, we hope it will be recognized for its potential and successfully enter the domestic stock market next year.”