S.Biomedics, a cell therapy developer, said Wednesday that the competition rate was 994.8 to 1 in initial public offering subscriptions conducted on Monday and Tuesday.

A total of 85,531 subscriptions were received for S.Biomedics’ public offering to general investors. The deposits were estimated at 1.7 trillion won ($1.27 billion). It plans to enter the Kosdaq market on May 4 after paying and refunding deposits on Thursday. Its market capitalization after the listing is 197.9 billion won.

S.Biomedics fixed the final public offering price at 18,000 won per share, the upper limit of the desired band through demand forecast by institutional investors from April 17-18. Those who presented above-the-band price were 664 institutions, 53.3 percent of the total 1,246 institutions, marking the competition rate of 854 to 1.

S.Biomedics has two source platform technology – TED, embryonic stem cell-derived PSA-NCAM-positive neural precursor cells, and FEC3, allogeneic adipose-derived mesenchymal stem cell spheroids -- and eight pipelines based on them. Five of them are in the clinical stages. They are Parkinson's disease treatment, spinal cord injury treatment, severe lower extremity ischemia treatment, improvement of wrinkles around the eyes, and Cure Skin (treatment for acne scars).

The company plans to push for domestic permission and sales as well as technology transfer to foreign firms based on its intellectual property rights.

“We are pleased to produce good results in IPO subscription following the demand forecasts by institutional investors,” CEO Kang Se-il said. “We thank all who trusted our company’s innovative technology and the possibility of clinical trial success for our core pipelines.”

Kang added that the company would focus its capabilities on the clinical development of key pipelines to repay such faiths.