Vaxcell-Bio Therapeutics, an immunotherapy developer, said it has passed the financial regulator’s technology evaluation to be listed on the Kosdaq market.

The company said Monday it passed the assessment after receiving a high rating from E Credible and Korea Technology Finance Corporation. Vaxcel-Bio is to submit a preliminary review application to the Korea Exchange in early 2020 and seek an easy listing under the technology exception policy. The lead underwriter is Hana Financial Investment.

Vaxcell-Bio was spun off from Chonnam National University College of Medicine and Clinical R&D Center in 2010. The company focuses on developing cell and protein-based immunotherapeutics, led by researchers, including CEO Rhee Joon-haeng and Chief Science Officer Lee Je-jung.

Vaxcell-Bio said it has completed phase-1/2a trials on a dendritic cell (DC)-based immunotherapy for multiple myeloma and phase-1 clinical trials on hepatocellular carcinoma immunotherapy using natural killer (NK) cells.

The company is testing the two pipelines in three phase-3 trials, as well as working to develop immunotherapy using both pipelines.

Vaxcell-Bio is seeking regulatory approval for Vaxleukin-15, immunotherapy for canine cancer.

“With the passing of the technology review, we will join the Kosdaq market early next year and accelerate the development of various platforms for cancer immunotherapies, CEO Rhee said. “By doing so, we will provide new hope for cancer patients and their families.”

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