South Korea's HK inno.N Targets Cell Therapy, Vaccine Expansion Following $500m IPO

Record High Subscriptions From Institutional Investors

South Korean pharma HK inno.N’s $500m IPO has drawn strong interest with subscriptions from institutional investors marking a record high. The IPO should help it speed up development of cell and gene therapies and beef up its vaccines business.

ipo — HK inno.N Joins Club Of Major Korean Biopharma IPOs • Source: Alamy

HK inno.N has raised more than $500m in an initial public offering on the Kosdaq market, joining the club of major biopharma IPOs in South Korea. The company was formerly known as CJ Healthcare and is well known for its cash-cow anti-hangover drink Condition. However, the financing is aimed at building the mid-sized firm's biopharma business, including in cell therapies and vaccines.

The South Korean firm plans to expand core pipelines and strategically foster its vaccine business

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