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.

Mestag Therapeutics Ltd. has raised a $40 million round from existing investors as it completes final preparations for its lead program MST-0312 to enter clinical development in mid-2026. MST-0312 is a bispecific antibody aimed at the lymphotoxin-β receptor (LTBR), which is essential for the development of lymphoid tissues.

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.

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.

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.

Atopic dermatitis (AD) is an inflammatory skin disease accompanied by pruritus, for which IL-13 and IL-31 are clinically validated targets. Earendil Labs Inc. has developed a bispecific antibody targeting both IL-13 and IL-31, HX-16108, with an extended half-life.

Harbour Biomed Ltd. and Sichuan Kelun-Biotech Biopharmaceutical Co. Ltd. have announced IND approval by China’s National Medical Products Administration (NMPA) for HBM-7575 (SKB-575) for the treatment of atopic dermatitis.

B-cell acute lymphoblastic leukemia (B-ALL), characterized by the clonal expansion of immature lymphoblastic cells, is traditionally treated with lengthy chemotherapy followed by allogeneic stem cell transplantation (aSCT) for high-risk patients. However, patients with relapsed or refractory B-ALL still present a dismal prognosis.

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.