Multi-modality platform company Kanaph Therapeutics Inc. raised ₩40 billion (US$26.7 million) through its Kosdaq stock sale March 16, becoming the first Korean biotech to go public this year. The Seoul-based company’s shares (KOSDAQ:0082N0) climbed to ₩70,000 in intraday trading before closing at ₩50,600 – 153% higher than the offering price.
Enodia Therapeutics Inc. was spun out of The Institut Pasteur by Argobio Studio based on the work of Caroline Demangel, co-founder of Enodia and head of the immunobiology and therapy unit at The Institut Pasteur. Demangel’s lab discovered the mechanism of action of mycolactone, a natural Sec61 inhibitor that causes Buruli ulcers.
Eisai Co. Ltd. has patented immunoconjugates comprising monoclonal antibodies targeting 5’-nucleotidase (CD73) covalently linked to cytotoxic drug. They are reported to be useful for the treatment of cancer.
Sunrise Oncology (Hong Kong) Ltd. has disclosed GTPase KRAS inhibitors in a recent patent. They are described as potentially useful for the treatment of cancer.
Avelos Therapeutics Inc. has identified substituted triazine compounds acting as ubiquitin carboxyl-terminal hydrolase 1 (USP1) inhibitors potentially useful for the treatment of cancer.
In a recent publication, researchers from Johnson & Johnson presented a bispecific antibody – JNJ-79032421 – targeting CD3 on T cells and the membrane-restricted, non-shed region of full-length mesothelin (MSLN) on cancer cells.
Akeso Inc.’s first-in-class trispecific antibody, AK-150, has received IND clearance from China’s National Medical Products Administration (NMPA) for clinical trials in patients with advanced solid tumors. Engineered using Akeso’s AI-driven drug discovery platform and its proprietary Tetrabody technology, AK-150 is a humanized anti-CSF-1R, ILT2 and ILT4 trispecific antibody that achieves multipathway blockade of both innate and adaptive immunity.
Two biotech and three med-tech companies are slated for Kosdaq debuts this month, signaling a potential rebound for Korea financings in 2026. Kanaph Therapeutics Inc. will open with a ₩40 billion (US$26.99 million) raise and Imbiologics Corp. will debut with ₩52 billion. Additionally, Mezoo Co. Ltd., Cosmo Robotics Co. Ltd. and Recensmedical Inc. will launch IPOs.
Immutep Ltd.’s stock on Australia’s Securities Exchange plummeted nearly 90% on March 13 on the news that its phase III TACTI-004 trial evaluating eftilagimod alfa (IMP-321, efti) in first-line non-small-cell lung cancer was discontinued due to futility.
Enodia Therapeutics SAS has acquired Kezar Life Sciences Inc.’s assets from its Sec61-based discovery and development program, including clinical-stage KZR-261. Insights from Kezar’s Sec61-based programs will further strengthen Enodia’s core focus on Sec61-driven selectivity for targeting protein degradation.
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