STCube Exceeds 100% Subscription Rate in Paid-in Capital Increase... Secures 47.6 Billion KRW for Clinical Trials

[Asia Economy Reporter Hyungsoo Park] Immuno-oncology drug developer STCube has successfully completed a paid-in capital increase, securing new investment funds. The increased participation rate in the capital increase is interpreted as growing expectations for the innovative new drug candidate ‘hSTC810,’ which is currently undergoing clinical trials.

STCube announced on the 23rd that the subscription rate reached 103.34% after conducting a paid-in capital increase subscription for existing shareholders over two days on the 19th and 20th.

The number of shares to be issued is 11.5 million common shares. Since the subscription rate exceeded 100%, no separate public offering will be conducted. The payment date is scheduled for the 27th, and the new shares are expected to be listed on the 10th of next month.

An STCube official said, "All employees are working hard to achieve a successful Phase 1 clinical trial and technology transfer of hSTC810 this year," and added, "We thank the shareholders who actively participated in the subscription, believing in our growth potential."

He continued, "Through the novel immune checkpoint inhibitor ‘hSTC810,’ which did not exist before, we will grow into a leading immuno-oncology drug development company," emphasizing, "We will deliver results beyond expectations."

STCube plans to use the raised funds to accelerate the clinical trials of hSTC810. The clinical trial officially started last month with the first patient dosing, and discussions on technology transfer are underway with multiple global pharmaceutical companies.