Qurucell, General Subscription Competition Rate 170 to 1... Scheduled to be Listed on the 9th

Qurucell, the first CAR-T development specialist company established in Korea, announced on the 1st that it recorded a competition rate of 170 to 1 in its public offering subscription for general investors.

The public offering subscription was conducted for 400,000 shares out of the total public offering volume (1.6 million shares), raising approximately 679.8 billion KRW in subscription deposits.

Qurucell, the first CAR-T development specialist company established in Korea, recently completed the Phase 2 clinical trial of Anbalsel and plans to apply for new drug approval in September next year. Qurucell successfully enhanced CAR-T cell function and improved therapeutic effects by developing the OVISTM technology, which removes immune checkpoint receptors that cause CAR-T cell function decline, for the first time in the world. It is currently filing patents for OVISTM in 25 countries including Korea and overseas. Patents have been registered in Korea, the United States, Europe, and Japan.

CAR-T therapeutics are cell and gene therapies that genetically modify T cells, immune cells isolated from the patient’s blood, to effectively eliminate cancer cells. They have shown high response rates and complete remission rates in the treatment of blood cancers such as lymphoma, attracting global attention.

Qurucell applied for a technology-specialized listing in May this year and passed the preliminary listing review in September. It conducted a demand forecast for institutional investors until the 26th of last month and finalized the public offering price at 20,000 KRW, below the lower end of the expected range (29,800 to 33,500 KRW). It is scheduled to be listed on the KOSDAQ market on the 9th, with Samsung Securities and Mirae Asset Securities acting as the listing underwriters.