Three corporations, including Digital Healthcare company Sky Labs, are seeking listings on the KOSDAQ market.
The KOSDAQ Market Division of the Korea Exchange (KRX) said on the 2nd that Sky Labs, REMEDI and Ingenia Therapeutics submitted preliminary listing review applications.
Sky Labs is an AI-based healthcare platform corporation founded in 2015 by Chief Executive Lee Byunghwan. Its flagship product is the ring-type blood pressure monitor "CART BP."
CART BP improves convenience in measuring blood pressure and has the advantage of monitoring various blood pressure patterns. It eliminates the cuff and uses an optical sensor to detect minute changes in blood flow. Among ring-type blood pressure monitors worn on the finger, it was the first to receive medical device certification. Sky Labs is expanding the market with CART BP at the forefront, working with Kakao Healthcare and major hospitals in Korea.
The market estimates Sky Labs' market capitalization after listing at around 300 billion won. It was reported to have already been valued at over 200 billion won in a late last year pre-IPO fundraising.
The lead underwriter for Sky Labs' listing is Korea Investment & Securities Co.
REMEDI, which is also seeking to list, previously withdrew its preliminary review twice voluntarily and is making a third attempt. REMEDI is a corporation specializing in ultra-compact smart X-ray systems established in 2012. It first applied for a preliminary review in May 2022 but withdrew as the initial public offering (IPO) market cooled. Last year, it sought a technology special listing but ultimately did not reach the listing stage.
REMEDI, which posted 13.4 billion won in revenue and 940 million won in operating profit in 2024, is making its "third try" at listing, touting improved profitability as a strength. The lead underwriter is KB Securities.
Boston-based biotech corporation Ingenia Therapeutics also filed for a preliminary review with its underwriter Samsung Securities. Founded in 2018, it is developing therapies for glaucoma and chronic kidney disease, among others.
Its lead pipeline, IGT-427, has already been out-licensed to a global pharmaceutical company in a 1 trillion won technology transfer deal. IGT-302 and 303 are also in clinical trials.