ImmunOncia, an immuno-oncology specialist company and a subsidiary of Yuhan Corporation, announced on the 17th that it has passed the technology evaluation for KOSDAQ special listing through technology assessment.
ImmunOncia was established in 2016 as a joint venture between Yuhan Corporation and US-based Sorrento Therapeutics with a 51 to 49 ratio. Following additional investments, Yuhan Corporation's stake decreased to 47.3% in early last year. However, at the end of last year, Sorrento Therapeutics faced management difficulties and decided to dispose of all its shares in ImmunOncia, which were acquired by Yuhan Corporation along with financial investors (FIs). Currently, Yuhan Corporation holds 67.7% of ImmunOncia's shares.
By passing the technology evaluations conducted by two specialized assessment agencies designated by the Korea Exchange, ImmunOncia has qualified to file a preliminary review for KOSDAQ listing. Korea Investment & Securities is the lead underwriter for the listing.
Kim Heung-tae, CEO of ImmunOncia, stated, “Based on the results of this technology evaluation, we will challenge the KOSDAQ listing this year. Through this, we plan to accelerate the development of key pipelines currently in clinical stages and intensify non-clinical development of subsequent pipelines as well as the acquisition of new candidate substances.”
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