ImmuneOncia, a subsidiary of Yuhan Corporation, is showing strength early in the trading session on the KOSDAQ market on the 19th, its first day of listing.

Song Yoon-jeong, the CEO of ImmuneOncia (fourth from the left), is signing a technology export contract with China's 3D Medicines in 2021./Courtesy of ImmuneOncia

As of 9:10 a.m. on the same day, ImmuneOncia is trading at 6,200 won, up 2,600 won (72.22%) from its listing price. Newly listed stocks can rise by as much as 400% on their first day, exceeding the upper limit of 30%.

ImmuneOncia is a joint venture founded in 2016 by Yuhan Corporation and American company Sorrento Therapeutics. After Sorrento Therapeutics filed for bankruptcy, Yuhan Corporation holds a 67% equity stake in ImmuneOncia.

ImmuneOncia is a research and development specialist in immune oncology and bispecific antibody development. In 2021, it entered into a contract worth about 500 billion won, including milestones, by transferring the technology for the CD47-targeted immune oncology drug candidate 'IMC-002' to 3D Medicines in China. It also confirmed the efficacy and safety of the novel drug 'IMC-001' for natural killer (NK)/T-cell lymphoma by announcing the phase 2 clinical trial results last year.

ImmuneOncia's recent clinical data will be presented at the '2025 American Society of Clinical Oncology (ASCO)' held in Chicago, U.S., at the end of this month.