Ignis Therapeutics, a joint venture of SK Bioscience, is pursuing a listing on the Hong Kong Stock Exchange. If the listing is successful, the value of the equity held by SK Bioscience will increase, making future fundraising more favorable.
A representative from SK Bioscience noted on the 28th, "Ignis Therapeutics is preparing to apply for an initial public offering (IPO) on the Hong Kong Stock Exchange this year."
Ignis Therapeutics is a joint venture established in 2021 by SK Bioscience and the global investment firm 6 Dimensions Capital based in Shanghai, China, with SK Bioscience holding a 40.97% equity stake as the largest shareholder.
Previously, SK Bioscience transferred the rights to commercialize epilepsy treatment cenobamate, sleep disorder treatment solriamfetol, and other central nervous system drug candidates to Ignis for a total equity of $150 million. Last year, it also transferred the global development and rights of the non-narcotic pain treatment candidate "SKL22544" and its backup material to Ignis.
There are projections in the market that SK Bioscience may push for an exit after the listing of Ignis Therapeutics; however, the company stated, "Currently, we are not considering an exit" and added, "There are various ways to utilize our equity in Ignis for fundraising."