GI Innovation passes preliminary screening for Kosdaq listing

GI Innovation said Thursday that it has won approval in the preliminary screening to be listed on the Kosdaq market from the Korea Exchange (KRX). The approval came eight months after the company applied for a preliminary review in April.

GI Innovation plans to make various preparations, submit a securities report, and start the public offering process. Lead managers are NH, Hana, and Samsung investment and securities companies.

Established in 2017, GI Innovation develops immunotherapies and allergic and metabolic disease treatments. Major pipelines include immunotherapy GI-101 and allergic treatment GI-301. GI-101 is under a global phase 2 clinical trial, and GI-301 is under a domestic phase 1b clinical trial.

In the SITC (Society for Immunotherapy of Cancer) 2022, the company unveiled the interim results of the phase 1/2 clinical trial of GI-101, KEYNOTE-B59 study. When used alone or combined with Keytruda, GI-101 showed confirmed Partial Response (cPR). The combination therapy of Keytruda and GI-101 is also underway based on joint clinical development, and free aid agreement for 200 patients agreed with MSD in 2020.

“After the IPO, we will speed up efforts to release innovative new drugs in global markets by adopting strategies differentiated from the existing main pipelines,” CEO Lee Byeong-keon said.