Cellid Announces Public Offering of Forfeited Shares... "Will Accelerate New Drug Development Through Capital Raising"

Cellid announced on the 5th that it is conducting a general public offering subscription for forfeited shares arising after the rights offering subscription for existing shareholders.

Cellid conducted a rights offering subscription for existing shareholders amounting to 28.7 billion KRW from the 31st of last month to the 1st of this month. From today until the 6th, a two-day general public offering subscription is underway for 3,659,174 forfeited shares (including odd-lot shares). The subscription price per share is 4,515 KRW. Cellid's closing price on the previous day was 5,610 KRW.

The subscription results will be announced on the 7th. Refunds and payment of subscription funds are scheduled for the 8th, and the new shares are expected to be listed on the 25th. The subscription handling institution is NH Investment & Securities, and any remaining shares after the general public offering will be treated as unissued.

Cellid plans to use the funds raised through the rights offering for R&D and clinical trials of its Omicron variant COVID-19 vaccine, COVID-19 multivalent vaccine, cervical cancer anticancer immunotherapy vaccine ‘BVAC-C’, and head and neck cancer anticancer immunotherapy vaccine ‘BVAC-E6E7’.

On July 21, Cellid received approval from the Ministry of Food and Drug Safety for the clinical phase 3 trial application (IND) of its COVID-19 Omicron-specific vaccine ‘AdCLD-CoV19-1 OMI’. To expedite patient recruitment, preparations are underway to start domestic and international phase 3 clinical trials. Once approved domestically and by the World Health Organization (WHO), it is expected to become the first Omicron-specific vaccine developed using purely domestic technology.

A Cellid representative said, “We thank the shareholders who participated in the rights offering subscription. We will successfully complete the general public offering subscription and use the raised funds to demonstrate the excellence of our proprietary platform technology and leap forward as a global bio company.”