Nex-I sets offering price at 8,000 won; to list on KOSDAQ on the 12th of next month

[Financial News] Nex-I, an immuno-oncology drug developer, has completed bookbuilding with institutional investors and set its offering price at 8,000 won. The company had previously proposed an offering price range of 10,500 to 13,000 won.
According to the financial investment industry on the 30th, Nex-I conducted bookbuilding with domestic and overseas institutional investors from the 22nd to the 28th. Based on the final offering price, the offering is worth 40 billion won, and the company’s expected market capitalization after listing is approximately 366.8 billion won. A total of 5 million shares are being offered.
Korea Investment & Securities, the lead underwriter, said it set the offering price after taking into account recent stock market volatility and domestic and international uncertainties. It said the views of institutional investors who participated in the bookbuilding were also reflected.
Founded in 2021, Nex-I is an antibody drug developer whose main research focus is refractory cancers that do not respond to immuno-oncology treatment. NXI-101, discovered using its proprietary drug development platform Nexora (NEXORA), was licensed to Japan’s Ono Pharmaceutical in 2024.
The proceeds from the listing will be used for clinical trials and research and development of follow-on drug candidates. Nex-I plans to pursue Phase 1/2 clinical trials of NXI-201 in South Korea and the United States, while also accelerating development of next-generation pipeline candidates, including antibody-drug conjugates (ADCs) and bispecific antibodies.
Nex-I CEO Yoon Kyung-wan said, “After the listing, we will continue to advance research and development of our key pipeline without disruption and grow into a global drug development company through ongoing technology licensing deals.”
Nex-I plans to open subscriptions to retail investors on November 3–4 and list on the KOSDAQ market on the 12th of the same month.

[email protected] Im Sang-hyeok Reporter