Novelty Nobility, a company specializing in developing antibody drugs, said Friday that it has submitted a preliminary review request to the Korea Exchange to list on the Kosdaq market.

Last July, Novelty Nobility received an A grade from two specialized evaluation agencies designated by the Korea Exchange in recognition of its technology and business performance.

Novelty Nobility plans to issue 16,914,564 shares, including 2,200,800 to be offered through the IPO, with Shinhan Securities & Investment as the lead manager.

Founded in 2017, Novelty Nobility developed PREXISE-D, a fully human antibody discovery platform technology, based on the expertise of CEO Park Sang-kyu (a professor at Ajou University College of Pharmacy), who has more than 25 years of experience in antibody and protein research.

Through PREXISE-D, Novelty Nobility has independently discovered two new drug candidates in the clinical trial stage and three in the preclinical stage. In March, it plans to conduct a phase 1 clinical trial for NN3201, a c-Kit-targeting antibody-drug conjugate (ADC) anticancer drug, in the United States.

As of 2024, Novelty Nobility's revenue was 102.2 million won ($83,866), and its operating loss was 27.42 billion won. Its net equity is -64.73 billion won. CEO Park, the largest shareholder, holds a 15 percent stake.

“We aim to list on the Kosdaq within the first half of this year and plan to invest most of the funds raised in research and development,” Park said. “We will grow into a competitive company by achieving successful clinical results of NN3201 and global technology transfer.”