[Feature Stock] DXVX Surges 19% on News of Subsidiary's 500 Billion KRW Technology Transfer Deal

DXVX is showing strong performance in early trading.

As of 9:04 a.m. on August 18, DXVX was trading at 2,755 KRW, up 19.78% (455 KRW) from the previous trading day.

Investor sentiment appears to have been boosted by news that Avixgen, a DXVX subsidiary with next-generation drug delivery platform (ACP) technology, has signed a technology transfer agreement worth approximately 500 billion KRW with a U.S.-based biotechnology company.

Avixgen, in which DXVX holds a 66.2% stake, specializes in new drug development. Through this license-out agreement, Avixgen will grant its partner, the U.S. biotechnology company, a limited exclusive license to use its ACP patent. According to the company, the ACP platform developed by Avixgen enables efficient and stable delivery of drugs to tissues and cells in the body simply by combining or mixing with various drugs. It also offers broad applicability, ranging from small molecule compounds, peptides, and nucleic acids such as RNA, to antibodies.

This agreement was reportedly led by DXVX, Avixgen's largest shareholder, which was delegated business development authority. Avixgen will receive 500 billion KRW from its partner as an upfront payment and development milestones (stepwise technology fees), with royalties for ten years after commercialization to be paid separately.

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