[Market Focus] Caregen Shares Surge on News of Weight Loss Health Supplement Export to Mexico

As of 10:40 a.m. on July 15, Caregen's stock price on the KOSDAQ market was up 16.98% from the previous day's closing price, reaching 53,000 won, marking a strong performance for the second consecutive day. This surge appears to be due to the announcement the previous day of a supply contract for weight loss health functional foods with a Mexican pharmaceutical company, valued at approximately 42 million dollars (about 58 billion won).

Caregen is a company engaged in the research and development of biomimetic peptides and growth factor proteins, producing and selling pharmaceuticals, health functional foods, medical devices, and cosmetics. The company has built a large-scale peptide library, including more than 760 patents registered domestically and internationally. Caregen sells specialty therapy products (fillers, meso) and functional cosmetics, which incorporate peptide and growth factor ingredients as well as its proprietary dual encapsulation and sustained-release technologies, to 130 countries worldwide. According to consolidated financial statements, the company recorded sales of 82.6 billion won and operating profit of 34.2 billion won last year.

On July 14, Caregen announced that it had signed a supply contract with Mexican pharmaceutical company IFA Celtix for the oral weight loss health functional food "Korglutide." Korglutide is an oral health functional food based on a GLP-1 analog peptide developed by Caregen. It is being recognized for introducing a new approach to the weight loss market, which has traditionally focused on injectable treatments.

According to the company, Korglutide is characterized by its dual action of reducing body weight primarily from fat while improving glycated hemoglobin (HbA1c) without loss of muscle mass. Previously, Korglutide was officially registered as a health functional food by the Lebanese health authorities, marking the first case of an oral health functional food based on a GLP-1 ingredient. On July 11, Caregen announced that it would hold an investor relations (IR) session on July 29 to present overseas clinical results.