Curocell, a Korean CAR-T therapy maker, said it has set its final initial public offering (IPO) price at 20,000 won ($14.78), with the total offering amounting to 32 billion won.

The company plans to invest the raised capital in the commercialization of its CD19 CAR-T (chimeric antigen receptor-T) therapy, Anbal-cel.

Also, funds will support the development of new pipelines, including treatments for multiple myeloma, T-cell lymphoma, and solid tumors.

Curocell will offer a total of 1.6 million shares to the public, accepting subscriptions from retail investors from Tuesday to Wednesday. The company is scheduled to be listed on the Kosdaq market on Nov. 9.

CAR-T therapies are a form of cell gene treatment that genetically modifies T-cells, immune cells isolated from a patient's blood, to eliminate cancer cells effectively. They have been garnering global attention due to their high response and complete remission rates in treatments for blood cancers like lymphoma.

Established as the first company specializing in CAR-T therapy in Korea, Curocell recently completed phase 2 clinical trials for Anbal-cel and plans to apply for new drug approval by September of next year.

The company said it has enhanced the functionality of CAR-T cells by applying its proprietary OVISTM technology, which eliminates the cause of functional degradation in CAR-T cells, known as the immune checkpoint receptor.

Curocell has applied for OVISTM patents in 25 countries, including Korea, the U.S., Europe, and Japan, and has successfully completed patent registration in several jurisdictions.

"Despite the recent unfavorable stock market conditions, especially for biotech firms, we managed to wrap up this year's largest offering as a newly listed biotech company," Curocell CEO Kim Gun-soo said. "Leveraging Curocell's unique expertise and know-how as the first in Korea to initiate CAR-T therapy development, we aspire to soar as an innovative cancer immunotherapy specialist with global competitiveness post-listing."