Y-Biologics held a ceremony to celebrate its listing on the Kosdaq market at the Korea Exchange on Tuesday.

Y-Biologics conducted a demand forecast for institutional investors from Nov. 10 to 16 and finalized the initial public offering price of 9,000 won ($6.85). A total of 911 institutions participated, resulting in a competition ratio 226.89 to 1. In the subsequent public offering to the general public, the competition ratio was 834.9 to 1, collecting 1.04 trillion won in subscription deposits.

Founded in 2007, Y-Biologics is an antibody-drug discovery platform company. Based on its antibody discovery platform, the company develops antibody drug candidates independently or co-develops biopharmaceuticals in various modalities that require antibodies with Korean and foreign partners.

It has concluded five technology transfer agreements and is conducting 12 joint development projects.

With its antibody discovery platform technology, Y-Biologics aims to grow by discovering superior antibodies and generating revenues through early technology transfer before clinical development.

Y-Biologics owns Ymax-ABL, a fully human antibody library, ALiCE, a T-cell bispecific antibody platform, Ymax-ENGENE, an advanced antibody discovery technology, and pH-sensitive antibody discovery technology.

"The listing on the Kosdaq market has given a springboard for the company's development," Park Young-woo, Co-CEO of Y-Biologics, said. "We will continue to grow steadily to become a global antibody drug discovery platform company."