Gene therapy developer Rznomics secured 1.08 quadrillion won in deposits for the public subscription ahead of its KOSDAQ listing.
On the 10th, according to the investment banking (IB) industry, Rznomics posted a competition rate of 1,871.425 to 1 in the subscription for retail investors that ran starting on the 9th. The number of subscription applications came to about 560,000.
Rznomics also saw 2,229 domestic and overseas institutional investors participate in the book-building conducted from the 27th to the 3rd, logging a competition rate of 848.91 to 1. Accordingly, the offering price was set at the upper end, 22,500 won. Based on the offering price, the market capitalization is about 309.5 billion won.
Rznomics is a company founded in 2017 by Lee Sung-uk, a professor in the Department of Bio-Convergence at Dankook University, based on ribonucleic acid (RNA) editing technology.
Founded in 2017, Rznomics is a gene therapy developer with a proprietary RNA editing platform technology. Without directly altering genes, it is developing gene therapies that precisely correct mutant RNA that causes disease to treat illnesses. In May, it also signed a licensing agreement worth 1.9 trillion won with Eli Lilly and Company to develop a treatment for hereditary hearing loss.
Rznomics is set to debut on the KOSDAQ on the 18th. The lead underwriters are Samsung Securities and NH Investment & Securities.