Quadmedicine Co., Ltd. (CEO Seungki Baek), a medical microneedle platform specialist, is embarking on a full-scale initial public offering (IPO) process for listing on the KOSDAQ market.
Quad Medicine announced on the 29th that it had received preliminary approval for listing from the Korea Exchange on the 26th. With this approval, Quad Medicine officially meets the requirements for a technology-specialized listing on the KOSDAQ. NH Investment & Securities is the lead underwriter for the listing.
Quad Medicine has focused on developing microneedle-based drug delivery platforms since 2017. Its portfolio includes the next-generation "MAP Series" (S-MAP, C-MAP, P-MAP), which enables efficient drug delivery through the skin. This platform utilizes microneedles inserted into the epidermis and dermis layers to deliver drugs safely and minimally invasively. This platform has garnered significant attention from the global pharmaceutical and biotech industries for its ability to enhance patient convenience and maintain efficacy compared to existing injectables.
▲'S-MAP' is a detachable type that, when attached to the skin, the small tip remains inside the skin and delivers the drug in a precise amount. ▲'C-MAP' is a coated type that has a thin coating of drug on the outside of the needle, so that it dissolves in body fluids and is absorbed when it enters the skin. ▲'P-MAP' is a particle-attached type that turns the vaccine original solution into particles and attaches them to the tip surface to deliver them to the skin.
Quad Medicine has developed this proprietary technology platform, which can be expanded into diverse areas, including osteoporosis treatments, obesity treatments, hepatitis B vaccines, MR vaccines, and Shigella vaccines. Some of its pipelines have entered clinical trials through collaborations with domestic pharmaceutical companies, and it is currently preparing and pursuing future clinical trials with global pharmaceutical companies.
The company's manufacturing competitiveness is also attracting significant attention in the market. Quadmedicine has independently developed a dedicated microneedle production process and automated equipment, ensuring consistent quality. This is difficult to achieve with general-purpose equipment and is considered a key strength for the company as it prepares for large-scale commercialization. The company currently holds approximately 40 domestic and international patents and recently received A and A grades in technology assessments, officially recognizing its technological prowess.
CEO Baek Seung-ki said, “This preliminary review approval for listing is not just the beginning of the IPO process, but also signifies that Quad Medicine’s microneedle platform has established itself as a new paradigm for drug delivery.” He added, “Going forward, we will improve the quality of life of patients based on our proprietary technology and leap forward as a leading company that presents a growth model in the global market.”
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