Shaperon, a clinical-stage biotech firm, said it passed the financial regulator’s preliminary review for initial public offering (IPO) on the Kosdaq market.

The company said it aimed to go public in the second half of this year.

The Korea Exchange (KRX) said Shaperon passed the preliminary review on Thursday.

The company applied for the preliminary review for IPO in January.

It plans to issue 2,747,000 shares for public offering, and NH Investment & Securities is the underwriter.

Shaperon is working on an inflammasome inhibitor targeting GPCR19 and nanobody-based antibody treatment.

The company is conducting a phase 2 study of NuGel, an atopic dermatitis drug candidate.

It also received approval to conduct a local phase 2/3 trial of NuSepin, a Covid-19 treatment candidate.

Shaperon signed an agreement with Kukjeon Pharmaceutical for the local sale of NuCerin, an investigational Alzheimer’s disease treatment, in March last year. Shaperon and Kukjeon are preparing for a phase 1 study together.

In April, Shaperon licensed out oral HY209, a potential treatment for idiopathic pulmonary fibrosis (IPF), to Bridge Biotherapeutics. The company also signed an MOU for joint research with Dongkook Pharmaceutical to develop a new drug for inflammatory diseases.

Shaperon said it would attend the 2022 BIO International Convention in June.

“We were lucky to pass the preliminary review while biotech companies have been going through a tough time this year,” said Lee Myung-sea, CEO of Shaperon. “I hope we can complete IPO well and become a good example to other biotech firms.”

He also hoped that Shaperon’s IPO in the second half could boost investment in the biotech industry.