close

Fundraisings and IPOs

Date: 2018-07-23

Type of information: IPO

Company: OliX Pharmaceuticals (South Korea)

Investors:

Amount: KRW43 billion ($38 million)

Funding type: IPO

Planned used:  

  • OliX is a clinical stage pharmaceutical company developing therapeutics against a variety of disorders by down-regulating expression of disease-causing genes, based on its own proprietary RNAi technology. The raised capital will be used for research and development of  Olix's therapeutic programs including hypertrophic scar (OLX101), idiopathic pulmonary fibrosis (OLX201), and age-related macular degeneration (OLX301A and OLX301D).
 

Others:

  • • On July 23, 2018, OliX Pharmaceuticals has successfully completed its public listing on the Korea Securities Dealer Automated Quotation (KOSDAQ) in the Korean stock market on July 18. On its first day of trading, shares of OliX closed at KRW65,600 ($58) per share with its market capitalization standing at KRW422 billion ($373 million).
  • OliX could be listed on the secondary bourse KOSDAQ based on the special listing system of Korea (i.e. allowing unprofitable but promising companies to go public) after receiving high ratings (A grade) from the evaluation agencies last October.  OliX issues 1.2 million new common shares, collectively raising nearly KRW43 billion ($38 million).
       

Therapeutic area: Fibrotic diseases - Ophtalmological diseases

Is general: Yes