Bituen Affiliate Medicloud Receives 'A Grade' in Preliminary Review for Technology Special Listing

Medicloud, a gene analysis and molecular diagnostics company based on NGS (Next-Generation Sequencing), plans to proceed with a pre-IPO equity investment soon after receiving an A grade in the technology special listing preliminary evaluation for its initial public offering (IPO) in partnership with AI and big data specialist company B2N (CEO Taeil An). It was also announced that investments are expected from Silicon Valley during the pre-IPO fundraising stage.

A company representative stated, “Since partnering with B2N, we have expanded our scope from bio to big data, aiming to drive the IPO with the goal of market expansion through a new paradigm in the bio sector.”

Medicloud received an A grade in the preliminary technology evaluation for KOSDAQ special listing conducted by a technology evaluation institution designated by the Korea Exchange. The lead underwriter for the listing is Shinhan Investment Corp. The remaining procedures for the KOSDAQ listing include applying for a designated accounting firm for the Financial Supervisory Service’s designated audit before submitting the listing review request, and undergoing the main technology evaluation by two registered evaluation institutions. The company plans to proceed with the KOSDAQ technology special listing through these subsequent steps.

To follow the technology special listing track, a company must pass the technology evaluation by receiving an A grade from both of the two professional evaluation institutions designated by the Korea Exchange.

Medicloud has already commercialized gene analysis and molecular diagnostics based on NGS (Next-Generation Sequencing). Recently, it completed close business consultations with Silicon Valley investors for its entry into the U.S. market. Starting with the establishment of a research center in Silicon Valley next year, it plans to provide differentiated gene analysis services throughout the United States.

Medicloud offers services that allow gene analysis and molecular diagnostics through genetic testing at home, not in medical institutions (hospitals). Notably, it also provides companion services for pets beyond humans. In 2022, it proved its technological capabilities by winning first place in the gene testing/research category at the Excellent Brand Awards of the Year.

A company representative said, “We plan to offer innovative gene analysis services in 2024, so please look forward to it.”

The Excellent Brand Awards of the Year is an award given to brands highly valued by consumers for their product value over the year. The award selects final winners through strict evaluation criteria assessing brand stability and service excellence.

This content was produced with the assistance of AI translation services.