[Asia Economy Reporter Lee Chun-hee] Chabiontech affiliate Chavaxin Research Institute has completed its application for a technology evaluation with the Korea Exchange (KRX) and has officially entered the KOSDAQ listing process.
Through this evaluation application, starting from the 25th, two specialized evaluation agencies designated by the Korea Exchange will assess the technology completeness, personnel level, and growth potential. If the technology evaluation is passed, the management and profit requirements will be exempted during the preliminary listing review process. Chavaxin Research Institute plans to complete its KOSDAQ listing within this year.
Chavaxin Research Institute is evaluated to possess a specialized technology platform called the immune adjuvant platform. It can simultaneously induce humoral immune responses that activate antibody production and cellular immune responses that eliminate virus-infected cells, making it more effective compared to other immune adjuvants that mainly have humoral immune functions. Additionally, it can carry various forms of antigens such as DNA and RNA, allowing for broad applicability to multiple diseases.
Currently, Chavaxin Research Institute is conducting a Phase 2b clinical trial of its main pipeline, the chronic hepatitis B therapeutic vaccine ‘CVI-HBV-002’. This next-generation vaccine aims to cure chronic hepatitis B by activating patients' immune responses to eliminate the virus within the body. Since there is no treatment yet that can completely eradicate the hepatitis B virus, chronic patients must take antiviral drugs for life to suppress viral replication. Besides this, Chavaxin Research Institute is developing next-generation vaccines such as hepatitis B preventive vaccines, shingles, norovirus, and COVID-19 vaccines, as well as anticancer vaccines and immunotherapies for various cancers.
Through this technological capability, Chavaxin Research Institute has successfully attracted about 37 billion KRW in investment from domestic investment institutions. Last month, through a pre-IPO equity investment, it raised 23 billion KRW from InterVest and Highland PEF, and in March 2019, it secured a total of 14.3 billion KRW from seven venture capital firms including Stick Ventures, LSK Investment, and Hyundai Investment Partners.
Yeom Jeong-seon, CEO of Chavaxin Research Institute, stated, "Through listing, we will accelerate the clinical trials and commercialization of our core pipelines while strategically expanding investments in innovative new drug R&D to continuously increase corporate value. Based on the immune adjuvant platform technology, we plan to expand our pipeline into various fields such as anticancer vaccines and immunotherapies."
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