À̹ÌÁö È®´ë Incon has embarked on 2022 IPO process for its U.S. biotech subsidiary ImmunoMet Therapeutic in Korea.
The process will be managed by Mirae Asset Daewoo and KB Investment & Securities.
ImmunoMet is a clinical stage biotech targeting cellular metabolism to develop novel anti-tumor therapies. Its key pipeline IM156 has a mechanism of action to target a pathway in mitochondria and decrease the energy supply of resistant cancer cells. It is the first potent PC1 inhibitor to complete a Phase 1 study and the company anticipates initiating Phase 2 studies in the U.S. next year. Phase 1 study results presented at the ASCO 2020 virtual annual meeting drew attention from the medical community for the drug¡¯s good tolerability, according to the company.
ImmunoMet was founded in 2015 as a spin-off from Korean biotech company HanAll Biopharma was later acquired by Incon.
Incon shares fell 3.76 percent to finish at 2,690 won ($2.35) on Wednesday.
By Pulse
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