Onconic Therapeutics, a subsidiary of Jeil Pharmaceutical, was officially listed on the KOSDAQ market on November 19. 

Established in 2020, Onconic Therapeutics is 46.28% owned by Jeil Pharmaceutical, making it the company’s largest shareholder. During its IPO process, Onconic attracted strong interest from institutional investors, with 842 domestic and international institutions participating in the demand forecast, resulting in a competitive ratio of 200 to 1. The IPO price was set at KRW 13,000, raising a total of KRW 20.15 billion.

Onconic made history as the first Korean company to obtain drug approval before its public listing. The company’s main revenue driver is "JAQBO" which has contributed significantly to its sales. This year, Onconic signed additional licensing agreements for JAQBO in 20 countries, including India, Mexico, and South America.

The company is also advancing its oncology pipeline with "nesuparib," a PARP/TNKS dual inhibitor based on synthetic lethality. Currently in Phase 2 clinical trials, nesuparib is being developed for pancreatic cancer, endometrial cancer, and ovarian cancer, with plans to expand its indications to breast cancer, prostate cancer, and non-small cell lung cancer (NSCLC).

CEO John Kim expressed his gratitude to stakeholders and employees for their support in achieving the company’s KOSDAQ listing despite challenging market conditions. "Through this listing, we aim to set a new direction for domestic pharmaceutical R&D companies," Kim stated. He added that the valuation of its oncology pipeline, not fully reflected in the IPO price, offers potential upside for new shareholders. "We are committed to growing as a shareholder-friendly company, showcasing the profitability and differentiation of a bio-focused enterprise through value enhancement in our stock price," he said.

Onconic's successful listing and promising pipeline position the company as a rising player in Korea's pharmaceutical industry, with strong potential for global expansion in oncology therapeutics.