Innovo Therapeutics Files Preliminary KOSDAQ Listing Review Request

Innovo Therapeutics has submitted a preliminary listing review request to the Korea Exchange for a KOSDAQ technology-special listing.

According to Innovo Therapeutics on July 29, this comes about two months after passing the technology evaluation in May, and the company is now entering the full-scale listing process with its lead underwriter, Korea Investment & Securities. The Korea Exchange will notify the company of the approval decision within 45 business days from the receipt of the preliminary review request, which is the standard for domestic companies.

Innovo Therapeutics, founded in 2019, is an AI drug development company that researches and develops small molecule new drugs in the fields of immunology and inflammation, fibrosis, and oncology, based on its proprietary artificial intelligence platform, DeepZema®. The company has secured a total of nine drug development pipelines using the DeepZema platform, with four of them already in the clinical stage. Among unlisted drug development companies, these results are considered relatively advanced.

The fastest progressing pipeline is INV-001, a therapeutic agent for scar treatment. In a phase 2 clinical trial in Korea completed in August 2024, the randomized, placebo-controlled, double-blind study was conducted with 77 patients who had scars following thyroidectomy. The high-dose group showed a 24.5% greater reduction in scar index at week 12 compared to the placebo group. Based on these results, in June 2026 the company received approval for a phase 3 clinical trial plan (IND) from the Ministry of Food and Drug Safety and plans to proceed with a domestic multicenter phase 3 study involving about 252 thyroidectomy patients.

Commercialization achievements are also supporting the company’s listing efforts. In May 2026, Innovo Therapeutics entered into a technology transfer agreement with Daewoong Pharmaceutical for INV-008, a treatment for inflammatory bowel disease. The total contract value amounts to KRW 6.625 billion, consisting of a KRW 650 million upfront payment and additional milestone payments based on clinical progress.

Heedong Park, CEO, stated, “We decided to pursue an IPO to accelerate the clinical development of our main pipelines and to expand business through global technology transfer. Our proprietary AI platform enables us to screen for toxicity and other issues from the candidate discovery stage, allowing us to reduce both time and costs in new drug development while increasing the likelihood of success.”

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