Syntekabio, a new drug developer using artificial intelligence (AI)-based genome big data, said Thursday it passed the Korea Exchange’s preliminary review to be listed on the Kosdaq market.

Earlier, two rating agencies gave the company an “A” rating in technology evaluation.

Syntekabio said it would submit the registration statement to the Financial Services Commission as soon as possible to push for an initial public offering on Kosdaq. The company hopes to be listed this year. The lead underwriter is KB Securities.

Syntekabio has an AI-based analytic technology in various areas of new drug development, such as new drug candidate discovery and development of biomarkers to predict efficacy. The company has been collaborating with large domestic players, including JW pharmaceutical and CJ HealthCare.

“The AI-using technology will greatly contribute to improving the success rate of clinical trials by drastically reducing the trial and error during drug development and finding the optimal target patient population,” an official at Syntekabio said. “We will expand joint pipelines through collaboration not only with local firms but global pharmaceutical companies.”

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