Orum Therapeutics Announces Pricing of Initial Public Offering

BOSTON, USA & DAEJEON, South Korea, February 3, 2025 – Orum Therapeutics (“Orum” or the “Company”) (KRX: 475830), a clinical-stage biotechnology company pioneering the field of degrader-antibody conjugates (DACs), today announced the pricing of its initial public offering of 2,500,000 shares of common stock at a public offering price of KRW 20,000 per share. All of the shares are being offered by Orum Therapeutics. The shares are expected to begin trading on the Korean Securities Dealers Automated Quotations (KOSDAQ) on February 14, 2025, under the stock code KRX: 475830. The gross proceeds of the offering, before deducting underwriting discounts and commissions and other offering expenses payable by Orum, are expected to be approximately KRW 50 billion. 

The offering is expected to close on February 5, 2025, subject to the satisfaction of customary closing conditions. 

Korea Investment Securities acted as underwriter for the offering. 

A registration statement relating to the offering has been filed with the Financial Supervisory Service and was declared effective on January 16, 2025. The offering is being made only by means of a prospectus. Copies of the final prospectus relating to the offering, when available, may be obtained for free by visiting DART on the Financial Supervisory Service website at https://englishdart.fss.or.kr/. Alternatively, copies of the final prospectus, when available, may be obtained from Korea Investment Securities, Attention: https://securities.koreainvestment.com, by telephone at +82-2-3276-5783, +82-2-3276-5783-4528, or by email at KIS_COMM@koreainvestment.com.  

This press release does not constitute an offer to sell or the solicitation of an offer to buy these securities, nor will there be any sale of these securities in any state or jurisdiction in which such an offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. Any offers, solicitations or offers to buy, or any sales of securities will be made in accordance with the registration requirements of the Korean Securities and Exchange Act, as amended, and otherwise in accordance with applicable securities laws in any other jurisdiction. 

About Orum’s TPD²® Approach 

Orum’s unique Dual-Precision Targeted Protein Degradation (TPD²®) approach builds novel targeted protein degraders combined with the precise cell delivery mechanisms of antibodies to generate innovative, first-in-class, cell-selective TPDs for the treatment of cancer. Orum has developed new targeted protein degrader payloads to specifically degrade an intracellular target protein within cancer cells via the E3 ubiquitin ligase pathway. Conjugated to antibodies, the payloads are designed to be delivered specifically to target cells and precisely degrade the intracellular target protein of interest. 

About Orum Therapeutics 

Orum Therapeutics is a clinical-stage biotech pioneering the development of cell-specific, targeted protein degraders (TPD²®) with the precision of antibody targeting to improve cancer treatment for more patients. The company is advancing its GSPT1-directed TPD² programs and developing novel degrader payloads to expand the potential of targeted protein degradation. Orum's novel targeted protein degrader payloads are designed to selectively degrade key intracellular proteins, offering a highly targeted approach to treating difficult-to-treat diseases. Orum is located in Lexington, MA, US, and Daejeon, South Korea. For more info, visit www.orumrx.com. 

Orum Therapeutics Forward-Looking Statements 

This press release contains forward-looking statements that are based on the current expectations and beliefs of Orum. Statements in this release regarding matters that are not historical facts, including, but not limited to, statements relating to the commencement of trading in Orum’s shares, the anticipated gross proceeds of the offering, the closing of the offering, the potential therapeutic value of Orum’s technologies; and the potential for clinical success for ORM-5029 are forward-looking statements. These forward-looking statements are based on management’s expectations and assumptions as of the date of this release and are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those expressed or implied by such statements. These risks and uncertainties include, without limitation, the uncertainty of success in research and development activities; risks related to clinical trials, including potential delays, safety issues, or negative results; competition from alternative therapies; the risk that product candidates may not be successfully commercialized or adopted; and risks related to the recruitment and retention of key employees, fluctuating markets and economic conditions, health care reform, prices, and reimbursement rates. The forward-looking statements in this presentation speak only as of the date of this release, and Orum undertakes no obligation to update or revise any of the statements. Orum cautions investors not to place considerable reliance on the forward-looking statements contained in this release. 

Contacts 

Corporate: Kayla (Gyebang) Mo, Director, IR/PR, Orum Therapeutics, media@orumrx.com  

Media: Jessica Yingling, Ph.D., President, Little Dog Communications Inc., +1-858-344-8091, jessica@litldog.com