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Xcell Therapeutics, a company specializing in the development of cell culture media, passes technology assessment
2021.02.25
Xcell Therapeutics, a company specializing in cell culture media development, passes technical evaluation
'A-BBB' from two rating agencies... IPO accelerated with preliminary examination within the year
Xcell Therapeutics, which develops domestic cell culture media, has passed the technical evaluation for its initial public offering (IPO). The company plans to launch a full-scale IPO schedule, including filing for a preliminary listing examination within the year.
Xcell Therapeutics passed the technical feasibility assessment with an A and BBB rating from two specialized agencies. The company's serum-free chemically composed culture media technology is believed to have led to the favorable evaluation. The technology assessment is the gateway to the special listing. Two specialized rating agencies designated by the Korea Exchange must give the company an A or BBB rating.
Xcell Therapeutics possesses original technology related to the production of media, which is essential for the development of cellular therapeutics such as stem cells. A medium is a liquid nutrient solution designed to grow cells. They are in direct contact with the cells during the manufacturing process. It has a major impact on the quality of biopharmaceuticals and the safety of the cell culture process.
The medium is also classified as the main component in the clinical stage. Changing the medium during clinical trials constitutes a major change. In this case, you may need to prove the equivalence of the replaced medium or redesign the study.
The best source for cell culture is human fetal serum. However, due to supply issues, ethical concerns, and technical limitations, serum from xenobiotic fluids or artificial culture (chemical composition) media are often used.
Xcell Therapeutics was founded by Dr. Lee. Mr. Lee graduated from Korea University in 1998 and worked as the Director of Business Strategy at Medical Group Namu. From 2010 to 2014, he served as the CEO of B-Hive International, a cosmetics manufacturing and distribution company. He is also said to have started commercialization while working at Korea Yakult, noting the importance of badges.
"As we have crossed the threshold of technology evaluation, we plan to file for preliminary listing for an IPO within the year," said an official from Xcell Therapeutics.