Orum Therapeutics Sets Goal of USD 70 Million by 2026
Following Previous Licensing Deals with BMS and Vertex, New Partnerships Expected
In a media conference call held on the 8th, Orum shared this ambitious vision and expressed confidence in reaching the target. This announcement follows the submission of the company’s securities registration statement on August 2 for its KOSDAQ listing.
Orum is currently developing therapeutic candidates related to "Targeted Protein Degradation (TPD)," a next-generation cancer therapy. The company holds proprietary technology, the "TPD² platform," which integrates TPD with Antibody-Drug Conjugates (ADC).
ADCs are medicines that link antibodies, which target cancer cells, with drugs that kill the cancer. These therapies selectively attack cancer cells without harming normal cells. Orum’s TPD² platform combines protein degraders, instead of traditional anticancer drugs, with antibodies used in ADCs, degrading the target proteins that cause diseases and treating cancer in the process.
In November 2022, Orum's TPD technology was recognized when it licensed its acute myeloid leukemia (AML) candidate "ORM-6151" to Bristol-Myers Squibb (BMS). The total deal value was reported to be approximately KRW 234 billion (USD 175.9 million).
In July of this year, Orum further proved its technological capabilities by licensing its TPD² platform to Vertex Pharmaceuticals, a leader in gene-editing therapeutics. This large-scale deal could bring Orum up to KRW 1.3 trillion (USD 975.5 million) in total licensing fees.
During the call, Orum CFO Jeong In-tae stated, "The two previous licensing agreements not only secured substantial funding but also opened opportunities for additional partnerships. We are optimistic about further licensing deals for our early-stage pipeline."
Jeong also highlighted, "Our key milestones are concentrated in 2026, when we anticipate achieving sales of KRW 93 billion. Of this, KRW 60 billion will come from our existing contracts with BMS and Vertex, with the remaining KRW 33 billion expected from new licensing agreements."
Orum will conduct a demand forecast with domestic and international institutional investors from August 24 to 30 to determine the final offering price. The public subscription period is scheduled for September 5–6, with Korea Investment & Securities as the lead underwriter. The total number of shares offered is 3 million, and the expected fundraising amount is approximately KRW 90 billion (USD 67.5 million).
Jeong emphasized, "The funds raised through this IPO will be used to ensure stable R&D activities going forward."