Protinah's shares have surged following the announcement of a licensing agreement with Samsung Bioepis.
As of 9:36 a.m. on July 10, Protinah's stock was trading at 26,550 won, up 3,150 won (13.46%) from the previous close, according to the Korea Exchange.
Protinah announced on July 9 that it had signed a co-development and licensing option agreement with Samsung Bioepis for antibody biobetter technology. The agreement involves the joint development of Protinah's antibody candidates and grants Samsung Bioepis an option for technology transfer for any new substances developed in the future.
Specifically, Protinah will be responsible for discovering and validating new drug candidates, while Samsung Bioepis will lead preclinical research until the submission of an Investigational New Drug (IND) application. If Samsung Bioepis exercises the licensing option, it plans to proceed with clinical trials and commercialization. Protinah will receive milestone payments and royalties at various stages.
The co-development agreement is set to run from October 1, 2025, to December 31, 2027. However, revenue recognition from the technology transfer of new substances may occur after the contract period. The specific terms and scale of the agreement have not been disclosed, but Protinah indicated that the contract amount exceeds 10% of its revenue from last year, which was 2.95 billion won.
* This article has been translated by AI.
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