Curatis (CEO Cho Kwan-gu), a company specializing in vaccine and immune booster development, held a press conference in Yeouido, Seoul on the 26th and announced its growth strategy and vision following listing on the KOSDAQ market.
Established in 2016, Curatis is a company specializing in the development of immune-related vaccines, and is engaged in contract manufacturing (CMO) and contract development and manufacturing (CDMO) businesses. Currently, the main development items are ‘QTP101 (development code name)’, a tuberculosis vaccine for adults and adolescents, and ‘QTP104’, a next-generation mRNA COVID-19 vaccine.
QTP101 completed phase 2a clinical trials for adults and phase 1 clinical trials for adolescents in Korea in 2021, and received IND approval for global integrated phase 2b/3 from the Ministry of Food and Drug Safety last year. QTP104 is currently completing phase 1 clinical trials in Korea.
Curatis is continuing its efforts to expand its pipeline through the discovery of candidate substances. In addition to the current flagship pipeline, the next-generation tuberculosis vaccine ‘QTP102’ is in the clinical development stage, and the schistosomiasis vaccine ‘QTP105’ is undergoing overseas phase 1 clinical trials.
In 2020, the company established a bio research institute and bio plant in the Osong Advanced Medical Complex in Chungcheongbuk-do and built its own production infrastructure that meets the pharmaceutical manufacturing and quality control standards (GMP) of the United States, Europe, and Korea. Based on this, it is currently operating CMO and CDMO businesses and realizing early sales. Curatis’ Osong Bio Plant is capable of producing 50 million vials of liquid and freeze-dried injections per year. The company plans to supply the vaccine to the market through the Osong Bio Plant’s production infrastructure after completing its own vaccine development in the future.
Curatis achieved sales of 8.4 billion won as of last year. The company expects to achieve sales of 106.161 billion won, operating profit of 48.19 billion won, and net profit of 47.219 billion won in 2025 by commercializing QTP101 and QTP104 and expanding its CMO and CDMO business.
QTP101, which is being developed by the company, is a tuberculosis vaccine for adults and adolescents. It boosts the body’s immune response formed by BCG and can prevent tuberculosis with just three vaccinations. It is a ‘Subunit Vaccine’ from which specific antigens are extracted, and is characterized by its high safety.
The company is promoting the business with the goal of global commercialization of QTP101 in 2025. As of 2020, BCG compulsory vaccination reached 153 countries in the world. Curatis plans to establish a joint promotion system with domestic pharmaceutical companies and advance into a total of 44 countries, especially Indonesia and China.
The total number of public offering shares of Curatis is 3.5 million shares, and the expected offering price per share is 6,500 to 8,000 won. The company plans to raise up to KRW 28 billion through this public offering, and the raised funds will be used for conducting phase 2b/3 clinical trials of QTP101.
With the goal of entering the KOSDAQ in June, the company conducts demand forecasting from institutional investors from the 30th to the 31st to determine the public offering price, and receives general subscriptions on June 5th and 7th. Daishin Securities and Shinyoung Securities are jointly in charge of the lead management company.
Cho Kwan-gu, CEO of Curatis, said, “I am confident in continuous growth based on the CMO/CDMO business along with the commercialization of QTP101 and QTP104, which are our main pipelines.” We will strive to develop a vaccine, the first mRNA COVID-19 vaccine in Korea.”
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