KANAPH Therapeutics Inc (Ticker: 0082N0 KS) is a South Korean biotechnology company specializing in human genome analysis and the development of targeted therapies. KANAPH Therapeutics plans to list on the KOSDAQ exchange on March 16, 2026, planning to offer 2.00 million shares at a price of KRW 20,000. This will raise an offer size of KRW 40.00 billion (approximately USD 27.68 million). The IPO implies a market capitalization of USD 179.45 million at the offer price.

According to sources, the offering consists of 100% primary shares, indicating that the IPO proceeds will be directed entirely to the company to support its ongoing operations and clinical development programs. The company focuses on next-generation treatments based on bioinformatics platforms, including bispecific antibodies, synthetic drugs, and ADCs. Its clinical pipeline reportedly features KNP-101, a first-in-class FAP-targeted interleukin-12 (IL-12) candidate designed to treat solid tumors—such as non-small cell lung cancer and colorectal cancer—by addressing the immunosuppressive tumor microenvironment.