Biotechnology industry is one of the fastest growing and high value-added industries. However, companies in this industry have to spend a long time to realize profits due to the nature their business works. They have to invest large amount of resources for research and development. In case of bio-products in biotechnology industry, companies have to spend a long period for development and therefore, experience high risk. At the same time, companies would experience very high returns on investment in case of success. Thus, raising sufficient and economical capital for consistent investment in research and development is critical for success of biotechnology business. The purpose of this study is to introduce a case of a successful initial public offering (IPO) within biotechnology industry in Korea. In particular, this study examines ABL Bio case on how they were able to raise capital via a special type of IPO known as the IPO system for high technology oriented firms. IPO requires a list of conditions a firm must satisfy. High tech companies including those in biotechnology industry have experienced a difficulty raising capital for investment due to a low profitability during their earlier years of operation. As a result, Korean government introduced a system that lowers the standards of IPO requirements for high technology companies so that they can continue growing and thus positively influence the national economy. However, this system can be misused by companies that are not qualified or be used as a back door means for IPO. Thus, this system must carefully examine companies that apply for this special type of IPO in terms of feasibility of technology and follow transparent processes. In addition, reliable public disclosures after IPO are very important in ensuring capital market efficiency and sustainable growth of biotechnology industry.