[Market Highlight] Proteina Surges 53% on First Day of KOSDAQ Listing

Biotech company Proteina is showing a rise of more than 50% on its first day of KOSDAQ listing.

As of 9:23 a.m. on July 29, Proteina was trading at 21,450 won on the Korea Exchange, up 7,450 won (53.21%) from its initial public offering price of 14,000 won.

Proteina previously set its IPO price at the upper end of the desired range (11,000 to 14,000 won) after recording a demand forecast ratio of 1,199 to 1 among institutional investors. In the subsequent public subscription, it also saw a high competition rate of 1,797.61 to 1. The subscription attracted 4.7187 trillion won in deposits.

Founded in 2015 as a faculty startup from KAIST, Proteina became the first in the world to commercialize the 'SPID (Single-molecule Protein Interaction Detection) platform,' a dedicated platform capable of analyzing protein-protein interactions (PPI) at the single-molecule level. Based on this technology, the company offers solutions that cover the entire drug development cycle, from PPI biomarker development to antibody design, through two product lines.