Preliminary listing review application scheduled for end-December

Human induced pluripotent stem cells (hiPSC)-derived 2D and organoid company Nexel have passed the technical evaluation. It plans to apply for a preliminary listing review next month and list it on the KOSDAQ market as a special case for materials, parts, and equipment in the first half of next year.

Nexel announced on the 30th that it received A and BBB grades from two professional evaluation agencies (NICE, Technology Guarantee Fund) and passed a technical evaluation for a special listing.

Companies listed as special materials, parts, and equipment can receive an A or higher grade from one of the two evaluation agencies.

Nexel explained that the two professional evaluation agencies were recognized for their excellence in business and technology for hiPSC-derived functional cells and drug evaluation technology using them, organoid development technology, and hiPSC-derived material-based new drug development technology.

Nexel provides cardiac safety and drug evaluation services using hiPSC cardiomyocytes, and recently started business in China and Japan. A company official said, "We made about 2 billion won in sales in the first half of this year, and we expect to record more than 200 percent increase in sales compared to last year by the end of the year."

The company's sales last year were 1.9 billion won. Nexel is also the only company in Korea to participate in a study on the revision of the new ICH Cardiovascular Safety Evaluation Guidelines (ICHE14/S7B).

Choongseong Han, CEO of Nexel, said, "We are happy to be recognized once again for our technology through the passing of the technology evaluation, and as listing on the KOSDAQ is a process, not a goal, we will strengthen our internal stability and grow into a global hiPSC company."
 

Based on the results of the technical evaluation, Nexel applied for a preliminary listing review at the end of December and aims to be listed on the KOSDAQ in the first half of next year. The organizer of the listing is NH Investment & Securities.