3billion nears Kosdaq listing in fight against rare genetic diseases

3billion, a company specializing in diagnostic services for rare genetic diseases, has received preliminary approval from the Korea Exchange for its Kosdaq listing through a special technology exception policy.

The preliminary approval was granted on Thursday, and the company plans to complete the listing process in the second half of the year after conducting demand forecasting and other public offering procedures.

According to the Korea Exchange, 3billion aims to list a total of 28,148,038 shares, including 3.2 million shares to be offered in the public offering.

Korea Investment & Securities is the underwriter for the listing.

The preliminary approval comes after the company received an A grade from two technology evaluation institutions -- Korea Invention Promotion Association and SCI Information Service -- in December last year, qualifying for the special listing.

The company boasts several advanced technologies, including the automated genetic variant interpretation system “EVIDENCE,” the pathogenicity prediction tool “3Cnet,” a re-analysis system for inconclusive or negative diagnostic results, and the AI-driven drug discovery platform ”MIN-T.”

Notably, the company boasts advanced technology capable of identifying all genetic variants that cause rare diseases in a single test.

Unlike traditional diagnostics that target specific diseases, 3billion's approach can diagnose over 7,300 rare diseases in one comprehensive test.

According to the company, its genetic variant interpretation technology is considered to be the best in the world, surpassing even Google DeepMind's Alphamissense.

Leveraging this cutting-edge technology, 3billion currently supplies rare disease diagnostic services to over 60 countries, which has resulted in over 70 percent of its revenue coming from international markets.

Following its Kosdaq listing, 3billion plans to further focus on expanding in overseas markets, particularly the U.S., which represents 50 percent of the global rare disease market.

The company intends to establish a subsidiary in the U.S. to spearhead its growth efforts. Additionally, 3billion aims to use its patient genomic data from the diagnostic business to develop new AI-driven drugs for rare diseases.