S-Alpha Therapeutics Receives "A" Rating in Preliminary Technology Assessment

Date : 2024-10-23

“A stepping stone toward IPO... Secures stable recognition for technological and market potential through differentiated digital health technology”

|S-Alpha Therapeutics (“S-Alpha Therapeutics, Inc.”) receives an ‘A’ rating in preliminary technology assessment, conducted under the same criteria as the formal assessment requiring A or BBB ratings 
|Recognized for consistent technological strength, including innovative medical device and NET certification; actively developing unique DTx products with proprietary mechanisms 
|“The IPO is a necessary step to address broader unmet medical needs... Will progress steadily”

Digital health expertise S-Alpha Therapeutics, announced on the 23rd that it received an A rating in its preliminary technology assessment, a step taken as part of the company's preparation for an initial public offering (IPO). 

 

In September, S-Alpha Therapeutics underwent the preliminary assessment with one of the 16 specialized institutions authorized to conduct evaluations for technology-based special listings. The preliminary assessment adheres to the same standards and evaluation criteria as the formal assessment, a requirement for technology-based listings. While the preliminary rating does not directly impact the formal assessment outcome, it serves as a key indicator of the company's readiness to meet the standards required for listing. 

 

The A rating awarded to S-Alpha Therapeutics was based on an evaluation across 18 core criteria, including technical maturity, competitive advantage, development environment and infrastructure, market potential, product commercialization readiness, and market competitiveness. In the formal assessment, companies must receive at least one A rating and one BBB rating to apply for a preliminary listing review. 

 

Having gained stable recognition in both technology and marketability, S-Alpha Therapeutics is actively advancing its pipeline of digital therapeutics (DTx) products. The most advanced pipeline candidate, SAT-001, is a therapeutic software designed to slow the progression of pediatric myopia. It was designated as an innovative medical device by the Ministry of Food and Drug Safety (MFDS) in 2022 and received New Excellent Technology (NET) certification from the National Institute of Technology and Standards under the Ministry of Trade, Industry, and Energy last year. Additionally, SAT-014, a therapeutic software targeting PTSD and adjustment disorder symptom relief, was selected as a national project for its importance and successfully completed proof-of-concept clinical trials, with pivotal study scheduled to begin domestically this year.

 

S-Alpha Therapeutics plans to accelerate its IPO preparations, aiming to validate both its technological strengths and market potential by targeting unmet medical needs in areas lacking standard treatments. Following the listing, the company plans to leverage its strengthened financial foundation to expand as a next-generation digital health solutions provider.

 

Seung Eun Choi, CEO of S-Alpha Therapeutics, remarked, “This result highlights the market’s recognition of our commitment to addressing unmet medical needs through the convergence of IT and Bio technology. We are dedicated to progressing transparently and steadily through the IPO process, establishing a foundation for our growth as a global leader in enhancing patient well-being.”