GI Innovation Submits Securities Registration Statement for KOSDAQ Listing... "Targeting March Listing"

Research on Next-Generation Immunotherapy Based on Fusion Proteins

[Asia Economy Reporter Lee Gwan-joo] GI Innovation submitted a securities registration statement to the Financial Services Commission on the 30th, officially commencing the listing process.

GI Innovation's total number of public offering shares is 2 million, with a desired offering price band of 16,000 to 21,000 KRW. Demand forecasting will be conducted on the 21st and 22nd of next month to finalize the offering price, followed by a general public subscription on the 27th and 28th. The expected listing period is early March, with NH Investment & Securities and Hana Securities as the lead underwriters, and Samsung Securities as the joint underwriter.

Founded in 2017, GI Innovation is a bio-venture company researching and developing next-generation immunotherapies based on fusion proteins, focusing on immune oncology and immune disease treatments. Its core technology, the innovative drug platform 'GI-SMART,' is a high-efficiency screening system that enables early discovery of optimal bispecific fusion protein candidates.

The main pipelines include the bispecific fusion immuno-oncology drug 'GI-101' and the allergy treatment 'GI-301.' GI-101 is a bispecific fusion protein that acts on immune cells in the peripheral lymph nodes and the tumor microenvironment of cancer patients to promote tumor cell apoptosis. GI-301 is a sustained-release protein-based allergy treatment in the form of an 'Immunoglobulin E inhibitor (IgE Trap),' which binds with high affinity to IgE and autoantibodies to suppress antibody-mediated hypersensitivity reactions caused by mast cells.

GI Innovation has completed a total of two technology transfers worth 2.3 trillion KRW to pharmaceutical companies including Yuhan Corporation and China's Simcere. CEO Lee Byung-gun stated, "We decided to go public to establish a foundation that ensures the stable and uninterrupted execution of our planned long-term research and development roadmap," adding, "The funds raised through the public offering will be used for ongoing clinical trials of GI-101 and GI-301 as well as the development of subsequent pipelines."