On December 30, 2020 NeoImmuneTech, Inc. (NIT), a clinical-stage T cell focused biopharmaceutical company, reported it has received notice of approval from the Korea Exchange (KRX) for its initial public offering (IPO) on the Korean Securities Dealers Automated Quotations (KOSDAQ) (Press release, NeoImmuneTech, DEC 30, 2020, View Source [SID1234573339]). NIT is planning to complete the IPO process in early 2021.
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NIT was established in 2014 and is headquartered in Rockville, Maryland, with offices in Pangyo, South Korea and a Research Institute in Pohang, South Korea. The company is led by the scientific founder and inventor of its lead drug candidate, NT-I7, and a strong executive team with rich industry experience. NIT is dedicated to expanding the horizon of immuno-oncology and enhancing immunity to infectious diseases.
NT-I7 (efineptakin alfa) is the only clinical-stage long-acting human IL-7. It is being studied in multiple clinical trials in solid tumors and infectious diseases (such as COVID-19), and as a vaccine adjuvant. Several of these studies are being conducted under clinical collaboration agreements with global industry leaders in immuno-oncology, including Roche, Bristol Myers Squibb, and Merck.
"This IPO opportunity would allow us to further enhance our competitiveness by expanding our already robust clinical program for NT-I7," said Se Hwan Yang, Ph.D., President and Chief Executive Officer of NeoImmuneTech. "We have full confidence in NT-I7’s potential to transform the treatment of cancer, as well as many other diseases where amplifying and improving the functionality of the T cells could provide greater clinical benefit."