GPCR passes Technology Evaluation process for listing on KOSDAQ
Seoul, Korea, 27 June 2023 – GPCR Therapeutics, Inc., a clinical stage, international biopharmaceutical company with an innovative approach to drug discovery based on targeting G Protein Coupled Receptors (GPCR) pairs, announced today that the company passed the Technology Evaluation process for listing on the KOSDAQ market.
The Korea Exchange (KRX) offers a Special Listing Track that grants flexibility to companies with strong technology capabilities for listing on the market. The first phase of this procedure is called Technology Evaluation, where companies’ financial performance, business operations, commercial prospects are rigorously reviewed and graded by two external evaluation bodies. Only those who receive ratings over at least A-BBB are eligible to proceed to the next phase, the Listing Eligibility Review. GPCR Therapeutics received A-BBB grades, validating its strong performance, growth potential, and robust business model.
GPCR Therapeutics develops a diverse pipeline targeting CXCR4, one of the most prevalent chemokine GPCRs overexpressed in more than 23 cancers. CXCR4 plays an important role in cancer growth, metastasis, and drug resistance. The company has discovered that CXCR4 inhibitors demonstrate more potent effect when administered in combination with other GPCR inhibitors than when given alone. Based on this finding, a Phase 2 clinical trial of the combination of the CXCR4 inhibitor GPC-100 and the ADRB2 inhibitor propranolol is currently underway in the United States. In addition, the company has partnered up with various domestic and foreign biotech companies, including TaiGen Biotechnology in Taiwan and AdAlta in Australia and actively conducting collaborative research projects.
Dr. Dong Seung Seen, GPCR Therapeutics’ founder and CEO, commented, “The technical evaluation process is a critical step in the IPO journey as it paves the way for its entry into the public markets. I am glad we received favorable results, validating growth potential in our science as well as business. I would also like to express gratitude to our entire team for having achieved such significant milestone. Understanding the interactions between GPCRs is the key to overcoming the current hurdles of drug discovery. We are determined to expand our portfolio, and are gearing up for our next clinical trial for patients with other hematologic malignancies.”
Upon completion of the pre-IPO funding round, GPCR Therapeutics plans to apply for the Eligibility Review, and aims to list on the KOSDAQ within this year.
About GPCR Therapeutics
GPCR Therapeutics, Inc. is a clinical stage international biopharmaceutical company with an innovative approach to developing therapeutics built on its proprietary GPCR data. The company’s proprietary data driven approach has identified over 1,000 GPCR pairs upon which drug screening campaigns can be pursued. Identification of the best GPCR pair to target for specific disease indications and patient subpopulations creates a personalized approach to combination therapy. By targeting the unique pharmacology of GPCR pairs, the company aims to develop life changing treatments for cancer and other diseases.
GPCR Therapeutics is developing multiple programs with the aim of advancing therapies for hematological malignancies as well as solid tumors. The company’s lead small molecule asset, GPC-100/Burixafor, targets CXCR4, one of the most prevalent chemokine GPCRs overexpressed in various cancers. The company has identified that CXCR4 interacts with the beta-2 adrenergic receptor (B2AR), and this GPCR pair presents an alternate signaling pathway that is synergistically dependent on CXCR4 and B2AR activation. The company has recently initiated a US Phase 2 clinical trial assessing the efficacy of the combination of GPC-100 and Propranolol in patients with multiple myeloma. In addition, the company is engaged in active collaborations with domestic and international biotechnology companies including Australia’s AdAlta (ASX: 1AD). GPCR Therapeutics aims to list on KOSDAQ in 2023.
GPCR Therapeutics has its HQ in Seoul, Korea with additional R&D facilities in the San Francisco Bay Area, USA. For more information, visit gpcr.co.kr and follow us on LinkedIn.
