CHA Vaccine gets preliminary approval for Kosdaq listing

CHA Vaccine Institute, a vaccine maker that is 46 percent owned by CHA Biotech, is a step closer to going public as its application passed a preliminary screening by the Korea Exchange.

According to the company on Friday, it passed the preliminary screening on Thursday. It plans to file a securities registration statement in August and aims to go public within the year as a Kosdaq stock.

Established in 2000, the Seongnam, Gyeonggi-based biotechnology company conducts research and develops a broad range of vaccine products targeting infectious and chronic diseases.

The company owns the technology for Adjuvant L-pampo, an immune stimulating material to enhance the efficacy of a vaccine.

With the technology, the vaccine maker has been developing therapeutic vaccine for the chronic hepatitis B. The vaccine candidate is currently undergoing clinical trials locally, including at Seoul National University Hospital.

“By going public on Kosdaq market within the year, we will accelerate the clinical trials of the core pipeline and commercialization, as well as expand investment in the development of innovative new drugs,” said Yum Jung-sun, CEO of CHA Vaccine Institute. “We will become a global vaccine development company for infectious diseases and chronic diseases based on our core technology.”

BY SARAH CHEA [chea.sarah@joongang.co.kr]