기업
GPCR passes Technology Evaluation process for listing on KOSDAQ
by Sungmin Kim
GPCR Therapeutics plans to apply for the Listing Eligibility Review in H2 and aims to list on KOSDAQ by the end of the year
GPCR Therapeutics, Inc., a clinical stage, international biopharmaceutical company with an innovative approach to drug discovery based on targeting G Protein Coupled Receptors (GPCR) pairs, announced today that the company passed the Technology Evaluation process for listing on the KOSDAQ market.
The Korea Exchange (KRX) offers a Special Listing Track that grants flexibility to companies with strong technology capabilities for listing on the market. The first phase of this procedure is called Technology Evaluation, where companies’ financial performance, business operations, commercial prospects are rigorously reviewed and graded by two external evaluation bodies. Only those who receive ratings over at least A-BBB are eligible to proceed to the next phase, the Listing Eligibility Review. GPCR Therapeutics received A-BBB grades, validating its strong performance, growth potential, and robust business model.
Upon completion of the pre-IPO funding round, GPCR Therapeutics plans to apply for the Listing Eligibility Review, and aims to list on the KOSDAQ within this year.
GPCR Therapeutics develops a diverse pipeline targeting CXCR4, one of the most prevalent chemokine GPCRs overexpressed in more than 23 cancers. CXCR4 plays an important role in cancer growth, metastasis, and drug resistance.
The company has discovered that CXCR4 inhibitors demonstrate more potent effect when administered in combination with other GPCR inhibitors than when given alone. Based on this finding, a Phase 2 clinical trial of the combination of the CXCR4 inhibitor GPC-100 and the ADRB2 inhibitor propranolol in patients with multiple myeloma is currently underway in the United States.
Dr. Dong Seung Seen, GPCR Therapeutics’ founder and CEO, commented, “Understanding the interactions between GPCRs is the key to overcoming the current hurdles of drug discovery. We are determined to expand our portfolio, and are gearing up for our next clinical trial for patients with other hematologic malignancies.”
GPCR previously received 39 billion won in pre-IPO investment in April 2021, and has received a total of 62 billion won in cumulative investment since its establishment in 2013. The company has partnered up with TaiGen Biotechnology in Taiwan and AdAlta in Australia.
