[Click eStock] "FutureChem, Expected US Technology Export for Prostate Cancer Diagnostic"

[Asia Economy Reporter Hyunseok Yoo] Hanyang Securities analyzed on the 3rd that FutureChem is expected to export technology for prostate cancer diagnostic agents to the United States. No investment opinion or target price was presented.

FutureChem is a company specializing in the development of radiopharmaceuticals. It is a diagnostic method that uses radiopharmaceuticals to identify the location of cancer through external imaging. FutureChem succeeded in commercialization by obtaining approval from the Ministry of Food and Drug Safety in 2008 for the Parkinson's disease diagnostic agent 'FP-CIT (PDRview)' and the lung cancer diagnostic agent 'FLT.' In 2018, it also succeeded in commercializing the Alzheimer's diagnostic agent 'Alzaview.'

Byungyong Oh, a researcher at Hanyang Securities, said, "FutureChem's diagnostic agent 'FC303' is currently in Phase 3 clinical trials in Korea and Phase 1 clinical trials in the United States," adding, "The U.S. Phase 1 trial is expected to conclude by the end of this year." He also stated, "FutureChem has already signed licensing agreements for 'FC303' in Europe and China in May and September, respectively."

He explained, "In Europe, the contract was signed with a company called IASON with an upfront payment of 1.22 million euros and a running royalty of about 20%," and "In China, a contract worth up to 650 billion KRW over 15 years was signed with a company called HTA."

He said, "The remaining market is the largest one, the United States," adding, "Negotiations are currently underway with leading local companies in the U.S., and if a contract is reached, it is expected to be the largest in scale." He further added, "The U.S. licensing contract is also expected to act as a significant momentum for the stock price."

Along with this, he emphasized that attention should also be paid to the prostate cancer treatment agent 'FC705.' He said, "This is because new prostate cancer radiotherapeutic drugs similar to FC705 are receiving tremendous value in the market," and gave examples: "For instance, Novartis acquired the French biotech 'AAA,' which was conducting Phase 1 clinical trials of the prostate cancer radiotherapeutic agent 'PSMA-R2,' for as much as $3.9 billion in 2017. Then, in 2018, one year later, Novartis again acquired the U.S. company 'Endocyte,' which was developing 'PSMA-617,' a drug more effective than 'PSMA-R2,' for $2.1 billion."

This content was produced with the assistance of AI translation services.