[Special Stock] Daewoong Pharmaceutical Rises on News of $640 Billion Technology Export to the US

Daewoong Pharmaceutical is showing strong performance. It is interpreted that the news of signing a technology export contract worth 640 billion KRW with a U.S. pharmaceutical company has had an impact.

As of 9:33 AM on the 28th, Daewoong Pharmaceutical is trading at 113,500 KRW, up 5.19% compared to the previous day.

The day before, Daewoong Pharmaceutical announced that it had signed a technology export contract for the oral autoimmune disease treatment candidate 'DWP213388' with the U.S. pharmaceutical company Vitalli Bio.

The contract size is up to a total of 477 million USD (approximately 639.1 billion KRW). This includes an upfront payment of 11 million USD (about 14.7 billion KRW) and milestone payments of 466 million USD (624.4 billion KRW). This amount accounts for 49.9% of Daewoong Pharmaceutical's consolidated sales in the most recent fiscal year.

According to the contract, Vitalli Bio will conduct clinical trials for DWP213388. Autoimmune diseases are conditions in which the body's immune system mistakenly recognizes normal cells as antigens, rather than external antigens such as bacteria or viruses, and attacks them. According to Daewoong Pharmaceutical, DWP213388 can inhibit the overactivated immune cells B cells and T cells in autoimmune disease patients.

In August of last year, Daewoong Pharmaceutical received approval from the U.S. Food and Drug Administration (FDA) for the phase 1 clinical trial plan of this substance.

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