Rezolute, Inc., a US bio-venture with Handok and Genexine as its largest shareholders, was successfully listed on the Nasdaq. Prior to its listing, it was traded under ‘RZLTD’ on the US kerb market OTCQB, but will now be traded under ‘RZLT’ on the Nasdaq from November 9, 2020.

Rezolute spearheads development of innovative therapies for rare illnesses, and Handok and Genexine jointly invested in this company in 2019 to became its largest shareholders. Handok acquired commercialization rights for RZ358 and RZ402 in Korea in September 2020, thereby strengthening its drug pipeline for diabetes and rare illnesses.

“Having recently won an investment of USD 41 million from leading investment companies, including CAM Capital, Federated Hermes Kaufmann, Surveyor Capital, and BVF Partners, we have now successfully become listed on the Nasdaq, which is an important milestone in Rezolute’s growth,” said Rezolute CEO Nevan Elam. He added, “The listing will not only enhance recognition of Rezolute in the market but also improve liquidity and expand the horizon for institutional investors, thereby providing a base for us to enhance shareholder value in the long term. Furthermore, we will now be able to accelerate efforts for our flagship projects: entering late-stage clinical trials for RZ358, a treatment for congenital hyperinsulinism, and clinical trials for RZ402, an oral plasma kallikrein inhibitor for the treatment of diabetic macular edema (DME).”

RZ358 is a first-in-class drug for congenital hyperinsulinism and a monoclonal antibody that binds to a unique site on the insulin receptors throughout the body. It was designated by the US Food and Drug Administration (FDA) as a rare pediatric disease (RPD) treatment in June 2020. It is currently being evaluated in the RIZE study, which is clinical trial IIb, and topline data will be available during the second half of 2021.

Meanwhile, RZ402 is in the preparatory stage for approval for the Investigational New Drug (IND) application and will be entering Phase I clinical trials in the first quarter of 2021. Rezolute has managed to secure sufficient funds to see the company through to 2022 and is well positioned to achieve milestones with each clinical trial.