NEX-I files for KOSDAQ listing to fund immunotherapy drug development

NEX-I, a biotechnology company specializing in new drugs for immunotherapy resistance, has submitted a registration statement to the Financial Services Commission to begin its KOSDAQ listing process. The company recently received preliminary approval for listing from the Korea Exchange.

NEX-I plans to offer 5 million shares with a target price range of 10,500 to 13,000 KRW per share, aiming for a total public offering size of 52.5 billion to 65 billion KRW. The company focuses on developing antibody therapeutics that target new mechanisms involved in cancer resistance to existing immunotherapies.

Its primary pipeline, NXI-101, has had its global development and commercialization rights licensed to Japan’s Ono Pharmaceutical, which is currently managing global clinical development. Another candidate, NXI-201, has received Investigational New Drug (IND) approval in both South Korea and the United States and is entering the clinical stage. NEX-I intends to use the funds raised from the IPO to accelerate clinical development for NXI-201 and expand its research into next-generation antibody-drug conjugates (ADCs).