[Click eStock] "GI Innovation to Begin Major Events Starting at ASCO in May"

On April 20, Hanyang Securities projected that GI Innovation is set to enter a major event phase starting with the upcoming ASCO in May. With its three core pipelines simultaneously attracting attention, expectations for licensing-out (L/O) deals and global collaborations are rising, increasing the likelihood of a corporate value re-evaluation.

GI Innovation has a total of three key new drug candidates. These are the CD80/IL2v immunocytokines (fusion proteins) "GI-101" and "GI-102," as well as the FcεR1α fusion protein allergy treatment "GI-301," which was licensed out to Yuhan Corporation. These candidates are characterized by a novel anti-cancer mechanism that increases T cells based on IL2 (interleukin 2) and suppresses regulatory T cells (Tregs) via CD80.

The most imminent event concerns "GI-101." Oh Byung-yong, a researcher at Hanyang Securities, stated, "'GI-101' completed two phase 1 clinical trials at the end of last year: a monotherapy trial (n=36) and a combination trial with Keytruda (n=48)." He added, "The results will be presented for the first time at ASCO 2026 in May this year." Notably, "These results have been selected for an oral presentation at ASCO, an opportunity granted to only about 3% of thousands of research submissions," he highlighted. "It is also rare for a phase 1 trial, rather than a later-stage clinical trial, to be chosen for an oral presentation, so expectations for outstanding data are very high."

There are also high expectations for licensing-out deals. He commented, "'GI-101' is currently in licensing-out discussions with overseas companies, and due diligence has been completed." He continued, "Last October, Takeda and Innovent struck a 16 trillion won deal that included 'IBI363 (PD-1/IL2),' an IL2-based drug, leading to a sharp increase in industry interest in IL2." He added, "Therefore, a short-term licensing-out deal for 'GI-101' is also anticipated."

"GI-102" is also expected to see a rise in value due to global collaboration opportunities. Researcher Oh explained, "'GI-102' is an IL2 protein designed to be safer than 'GI-101,' giving it an advantage in combination therapy." He added, "A phase 2 clinical trial targeting melanoma is planned in combination with Keytruda, and IND approval is expected soon."

Collaboration with Johnson & Johnson (J&J) is a key point. He explained, "A combination clinical trial will begin with J&J's T-cell engager (TCE) new drug 'Pasritamig.' The concept is that 'GI-102' increases the number of T cells, while 'Pasritamig' brings those T cells to tumor cells."

He continued, "'Pasritamig' is currently in a phase 3 clinical trial and has been cited by J&J as a leading next-generation blockbuster TCE candidate." He emphasized, "This collaboration has significantly increased the possibility of a major deal involving 'GI-102.'" He also added, "If 'Pasritamig' succeeds and its value increases, the value of 'GI-102' will naturally rise as well."

The allergy treatment "GI-301" is also expected to benefit from favorable market conditions. Recently, a series of large-scale mergers and acquisitions by global pharmaceutical companies has led to a surge of interest in this field. Researcher Oh stated, "The allergy treatment sector is the most notable field in the pharmaceutical industry this year, and naturally, the value of similar drugs such as 'GI-301' has risen." He further added, "Yuhan Corporation has entered phase 2 clinical trials, and the possibility of a global deal is higher than ever."

Lastly, he emphasized, "Although all three of the company's candidates—'GI-101,' 'GI-102,' and 'GI-103'—are facing major upcoming milestones, the stock price has remained flat for a long time. Going forward, a positive stock price trend is expected."

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