Market Focus 'Second Leclaza' Immunoncia to Begin Technology Licensing Next Year

Immunoncia, a newcomer to the KOSDAQ market, is showing strong performance compared to its IPO price. CEO Kim Heungtae stated, "Starting with global technology licensing next year, we aim to create meaningful momentum every year," and added, "This year, we plan to present promising clinical results at ASCO (American Society of Clinical Oncology)."

As of 9:27 a.m. on May 19, Immunoncia was trading at 6,410 won, up 78.06% from its IPO price.

In the demand forecasting for institutional investors conducted from April 22 to 28, the IPO price was set at 3,600 won.

Founded in 2016, Immunoncia's main pipeline includes the PD-L1 monoclonal antibody 'IMC-001' and the next-generation CD47 monoclonal antibody 'IMC-002'. The company is also actively developing follow-up pipelines to enter the bispecific antibody market. The largest shareholder is Yuhan Corporation, holding a 66.97% stake.

The company holds anti-PD-L1, anti-CD47, and anti-LAG-3 monoclonal antibodies as its core assets. Its basic business model is to develop new drug candidates based on these antibodies and generate revenue through technology licensing at the early clinical stage. Immunoncia has established itself as a leading company by being the first in Korea to commercialize the immuno-oncology drug Anti-PD-L1. Through this, it aims to enhance its brand value and achieve new growth. Furthermore, the company aims to launch a global blockbuster new drug akin to a "second Leclaza."

IMC-001 is an antibody therapy that works by inhibiting the immune checkpoint protein "PD-L1." It is intended for the treatment of NK/T-cell lymphoma, a rare blood cancer, and the company plans to apply for orphan drug designation (ODD) from the Ministry of Food and Drug Safety in the second half of this year. If designated as an ODD, approval can be obtained based solely on phase 2 clinical results. Currently, IMC-001 is in phase 2 clinical trials. IMC-001 has demonstrated outstanding efficacy in phase 2 trials for NK/T-cell lymphoma, showing an objective response rate of 79% and a complete response rate of 58%.

IMC-002 (second-generation CD47 monoclonal antibody) has demonstrated safety in phase 1a trials for solid tumors, and it has been confirmed that the results of the phase 1b trial for liver cancer will be presented at ASCO 2025.

At a pre-listing meeting, CEO Kim Heungtae explained, "Most early movers are fiercely competing in the blood cancer market, which accounts for only about 5% of the entire cancer market," and added, "Immunoncia has differentiated itself by targeting the solid tumor market, which represents about 95%." He further stated, "Among solid tumors, we have targeted those with high potential, such as liver cancer and breast cancer."