Orum prices South Korea listing at $67 million

Daejeon-based Orum Therapeutics, a specialist in degrader-antibody conjugates (DAC), has filed for an initial public offering (IPO) on South Korea's Kosdaq market.

The listing, which aims to raise approximately 90 billion Korean Won ($67 million) from the sale of three million shares, comes at a time when South Korea's biotech industry is experiencing rapid growth.

Backed by initiatives like the government's Bio Economy 2.0, the country is positioning itself as a leader in biologics and biosimilars, with major companies like Samsung Biologics (KRX: 207940) and Celltrion (KRX: 068270) driving innovation.