Ingenia Completes Public Offering Subscription...KOSDAQ Listing Set for the 18th

Competition Ratio Reaches 3.09 to 1

Ingenia Therapeutics, a biotech company developing antibody drugs for vascular diseases, announced on August 3 that it has completed its public offering subscription for general investors, which took place over two days starting July 30.

In this subscription, Ingenia achieved a competition ratio of 3.09 to 1. After collecting the subscription payments the following day, the company is scheduled to list on the KOSDAQ market on August 18.

The majority of the funds raised through the public offering will be used for research and development activities, such as accelerating clinical trials and expanding its pipeline. Ingenia aims to secure efficacy data for its chronic kidney disease (CKD) treatment candidate "IGT-303," which is currently in global Phase 2a clinical trials in Australia, New Zealand, and Korea, and to achieve global out-licensing by 2027.

The company also intends to accelerate the development of follow-up pipeline candidates including "IGT-302," a glaucoma treatment being collaboratively researched with Merck (MSD) in the United States; a solid tumor therapy (IGT-532); and a pulmonary arterial hypertension treatment (IGT-627).

Earlier, Ingenia successfully out-licensed its retinal disease treatment candidate "IGT-427" at the preclinical stage in a deal valued at over 1 trillion won.

Han Sangyeol, CEO of Ingenia, stated, “We will use this listing as a springboard to enhance our position in the global market by leveraging the value of our independently-developed microvascular normalization platform technology. In addition to delivering tangible results, we are fully committed to increasing shareholder value based on responsible management and transparent communication.”

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