$42M Kosdaq IPO Planned by US Biotech Firm Ingenia Therapeutics Co.

Ingenia Therapeutics Co. Ltd., based in Watertown, Massachusetts, is planning to list on the Korea Exchange's Kosdaq market with a $42 million initial public offering (IPO). The funds raised will be used to support its antibody pipeline, which includes a TIE2/VEGF bispecific compound licensed from Merck Sharp & Dohme LLC. According to the plan, 5 million shares will be priced at approximately $8.40 (₩12,000) per share.

The IPO pricing was confirmed on July 28, solidifying the plans for Ingenia's Kosdaq debut this month. The company is seeking a total of $42 million from the public offering.