Novelty Nobility, a domestic antibody drug development corporation, submitted a preliminary listing application to the Korea Exchange, it noted on the 27th. The company aims to be listed on KOSDAQ during the first half of this year. It plans to list a total of 16,914,564 shares, including 2,208,800 shares intended for public offering, with Shinhan Investment Corp. serving as the listing underwriter.
Novelty Nobility, founded by Professor Park Sang-kyu of the Ajou University College of Pharmacy in 2017, is developing new drugs utilizing fully human antibodies discovered through its antibody discovery platform, PREXISE-D. The advantage of fully human antibodies is that they use antibodies extracted directly from humans, which eliminates side effects caused by immune responses. The company is currently developing various modalities, including monoclonal antibodies, antibody-drug conjugates (ADCs), and bispecific antibodies.
The company's main pipeline (new drug candidates) is the ADC candidate NN3201. It received approval from the U.S. Food and Drug Administration (FDA) for its Investigational New Drug application (IND) for phase 1 clinical trials in May last year. The company is approaching the first patient dosing this first half of the year. NN3201 targets the c-Kit receptor, which is overexpressed in various types of cancer.
Known as 'guided missiles' for cancer cells, ADCs are a key technology for next-generation cancer treatments that attach drugs to antibodies, ensuring precise delivery only to cancer cells. This results in higher therapeutic efficacy compared to existing cancer drugs while minimizing damage to normal cells.
Previously, the company licensed its antibody new drug candidate NN2802, which treats mast cell-related diseases, to Acelyrin, a NASDAQ-listed company in the U.S., and is currently undergoing phase 1 clinical trials there. Additionally, it is developing three other candidates that are in the preclinical stage.
In July last year, Novelty Nobility received recognition for its technology and business potential from two specialized evaluation institutions designated by the Korea Exchange during a technology evaluation for special listing, receiving A grades from both.
Recently, during the JP Morgan Healthcare Conference held in San Francisco, Novelty Nobility participated as a domestic presenting corporation in the '5th Global IR@JPM' pitching event hosted by the Korea Bio Association.
CEO Park said, "We aim for KOSDAQ listing within the first half of this year, and most of the funds raised will be invested in research and development," adding, "We will achieve successful clinical results for NN3201 and results in global technology transfers to grow into a competitive corporation."