Dawon Medax Files for KOSDAQ Listing Preliminary Review... "Both Technology Evaluations Rated A"

Daewon Medax (CEO Park Seon-soon, Yoo Moo-young), the first domestic company specializing in the development of accelerator-based Boron Neutron Capture Therapy (BNCT) systems, announced on the 26th that it has submitted a preliminary review application to the Korea Exchange for listing on KOSDAQ. The listing sponsors are DB Financial Investment and NH Investment & Securities jointly. Daewon Medax received an A grade from both evaluation agencies in the technical evaluation for special technology listing at the end of last year.

Daewon Medax is currently conducting clinical trials for two types of cancer. The first is recurrent high-grade glioma (commonly known as brain tumor), for which patient treatment in Phase 1 clinical trials has been completed. The Phase 2 clinical trial will focus on glioblastoma, the most common type of high-grade glioma, with an Investigational New Drug (IND) application planned to be submitted to the Ministry of Food and Drug Safety by May, aiming to start Phase 2 clinical trials in the fourth quarter. The second is recurrent head and neck cancer, for which treatment of the first group in Phase 1 clinical trials was completed on the 12th, and safety evaluation is currently underway.

Recently, Daewon Medax signed memorandums of understanding (MOUs) with the UK medical device company Leo Cancer Care and the Taiwanese pharmaceutical company Taiwan Biotech Inc. for the sale of BNCT systems, laying the foundation for entry into Europe and the Chinese-speaking markets including Taiwan. Notably, Taiwan approved a reactor-based BNCT system as a medical device last year and is actively treating head and neck cancer, showing high interest in accelerator-based BNCT.

Yoo Moo-young, CEO of Daewon Medax, stated, “By passing the technical evaluation, our technology and the market’s growth potential have been recognized, and we are diligently preparing for the listing process. We take pride in being the first in Korea to develop and manufacture large-scale radiation medical devices, and we earnestly hope to be the first to export them overseas.”

He added, “We will continue to strive to provide new treatment methods to cancer patients who have been difficult to treat so far, improving their quality of life.”

This content was produced with the assistance of AI translation services.