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.
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.
Valanx Biotech Gmbh has secured €3 million (US$4 million) in funding to advance its lead antibody-drug conjugate (ADC) program. The financing will enable preclinical development of VLX-ADC-001.
Shanghai Chempartner Co. Ltd. has identified antibody-drug conjugates (ADCs) comprising HER2 (erbB2) or tumor-associated calcium signal transducer 2 (TACSTD2; TROP2) covalently linked to eribulin through a linker reported to be useful for the treatment of cancer.
In a boon for licensee Bristol Myers Squibb Co., Systimmune Inc.’s next-generation cancer drug, izalontamab brengitecan (iza-bren), hit both progression-free survival and overall survival endpoints in a phase III trial of Chinese patients with advanced triple-negative breast cancer.
Researchers from Sutro Biopharma Inc. presented data on dual-payload antibody-drug conjugates (ADCs) engineered to overcome drug resistance, demonstrating enhanced cytotoxicity and potential efficacy in resistant cancer models.
In a boon for licensee Bristol Myers Squibb Co., Systimmune Inc.’s next-generation cancer drug, izalontamab brengitecan (iza-bren), hit both progression-free survival and overall survival endpoints in a phase III trial of Chinese patients with advanced triple-negative breast cancer.
Researchers from Promatix Biosciences Ltd. presented preclinical data on PBS29301A, a first-in-class bispecific ADC developed using Promatix’s proprietary proteomics-based discovery platform.
Kivu Bioscience Inc. has announced receipt of Human Research Ethics Committee approval and clinical trial notification clearance in Australia to initiate a first-in-human trial of KIVU-305, its CEACAM5-targeted antibody-drug conjugate.
Sichuan Kelun-Biotech Biopharmaceutical Co. Ltd. has described antibody-drug conjugates (ADCs) comprising antibodies targeting cadherin-3 (CDH3; CDHP; P-cadherin) covalently linked to cytotoxic drug through a linker. They are reported to be useful for the treatment of cancer.
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