The Korea Exchange has decided to delist the depositary receipts of US-based Kolon TissueGene Inc. from the second-tier Kosdaq market following a ministry decision to cancel the approval of its lead product Invossa (TC-C; tonogenchoncel-L), an allogeneic cell and gene therapy for knee osteoarthritis. The move is expected to have a significant impact on the company’s business.
The Kosdaq review committee will finalize the initial delisting decision within 15 days, and if this goes forward it is...