Pharos stock trend on December 5 (Source: Naver Pay Securities)
◇Insilico IPO Tailwind Still Alive? Pharos Jumps 25%
According to KG Zeroin’s MP Doctor (formerly MarketPoint), Pharos iBio closed at 11,310 won up 2,250 won (24.83%) from the previous session.
The rally is widely attributed to lingering optimism surrounding the successful Hong Kong IPO of Insilico Medicine a global leader in AI driven drug discovery. Insilico debuted on the Hong Kong Stock Exchange (HKEX) Main Board on December 30, 2024, raising HKD 2.277 billion (approximately 420 billion won) the largest biotech IPO fundraising in Hong Kong last year.
Insilico reported 2024 revenue of USD 85.83 million (around 120 billion won) reinforcing its position as one of the few AI drug developers demonstrating tangible commercial traction. Industry watchers say this performance has renewed investor interest in domestic AI-based drug developers including Pharos.
Pharos is developing innovative therapies for rare and intractable diseases using its proprietary AI drug discovery platform, Chemiverse. Its lead asset, PHI-101, has received orphan drug designation from the U.S. FDA (2019), Korea’s MFDS (2024), and the European Medicines Agency (EMA) in 2025.
Shares of HLB Pep, a developer of industrial and pharmaceutical peptide biomaterials and innovative therapeutics, also traded strongly, closing at 8,870 won up 1,080 won (13.86%). The gain followed news that HLB Pep signed a joint development MOU with RayMed, a platform company combining AI drug discovery with radiopharmaceutical (RPT) technologies.
“Insilico Medicine’s successful listing continues to provide a tailwind for AI drug developers,” an industry source said “HLB Pep also appears to have benefited as investors linked its RayMed collaboration to the broader AI drug discovery theme.”
◇Orum Therapeutics Hits 52-Week High on 145bn Won Funding
Shares of Orum Therapeutics, Inc. closed at 127,700 won, up 13,900 won (12.21%), after briefly touching 128,600 won, marking a new 52 week high. The rally reflects sustained confidence following the company’s 145 billion won capital raise which investors view as validation of its platform value.
On November 18, Orum announced two private placements to third-party investors, issuing convertible preferred shares (CPS) to raise 145 billion won for R&D. As of the end of Q3 2024, the company already held 144 billion won in cash and cash equivalents making the additional funding particularly noteworthy.
Market participants interpret the successful fundraising despite ample existing liquidity as evidence that institutional investors strongly endorse Orum’s technology. Orum specializes in drug-antibody conjugates (DACs), often described as the “next-generation ADC.”
“While Korean biotech cannot be said to clearly lead global peers in ADCs, Orum is widely recognized as a global front-runner in DACs,” an industry insider said. “It’s natural that capital flows toward a company accelerating development of a category defining platform.”
Further supporting sentiment, Orum announced on December 5 the appointment of Dr. Chad May as Chief Scientific Officer. Dr. May brings over 20 years of experience in oncology and immunology with a track record of advancing ADCs, T-cell engagers (TCEs) and other next-generation modalities from concept through clinical development.
“The December fundraising highlighted how positively our technology is viewed.”
an Orum official said “With the CSO appointment, expectations appear to be building that our R&D momentum will further accelerate.”
CEO Lee Don-Haeng of NEXTBIOMEDICAL (Source: NEXTBIOMEDICAL)
◇NEXTBIOMEDICAL Gains on Renewed Investment Spotlight
Meanwhile, NEXTBIOMEDICAL CO., LTD. surged 11.29% to close at 91,700 won, as its investment thesis resurfaced among institutional investors.
Mun Yeo-jeong, managing director at IMM Investment, recently cited NEXTBIOMEDICAL, Orum Therapeutics, and OliX Pharmaceuticals as stocks worth buying at current levels. Following the disclosure, all three names traded higher, with OliX gaining 6.29% to close at 148,600 won.
Mun highlighted NEXTBIOMEDICAL’s achievement as the world’s first developer of an endoscopic hemostatic agent, as well as its global distribution agreement for NextPowder with Medtronic the world’s largest medical device company. Over 90% of the company’s revenue is generated overseas.
“NEXTBIOMEDICAL stands out for securing not only Korean MFDS approval but also U.S. FDA clearance and European CE certification, alongside partnerships with global players.”
a medical device industry source said “That combination underscores the robustness of its technology.”
