KOSDAQ-listed Aptamer Sciences is soaring early in the session on the 20th. The influx of buying is interpreted as stemming from news that the company is pushing forward with the commercialization of lung cancer early diagnostic kits in India.
As of 9:27 a.m. on that day, Aptamer Sciences is trading at 1,406 won, up 324 won (29.94%) from the previous trading day. Shortly after the opening, Aptamer Sciences headed straight for the upper limit price (the top of the daily price limit).
The bio corporation Aptamer Sciences announced that it has signed a contract with Apidi Healthcare, an Indian medical device manufacturer and infection control specialist, for local production and sales of the lung cancer early diagnostic kit "AptoDetect-Lung" before the regular market opens.
Apidi Healthcare, established in 1997, is the healthcare division of Apidi Technologies, specialized in manufacturing infection control solutions and medical devices.
This contract is an extension of the memorandum of understanding (MOU) signed between the two companies in May of last year. Aptamer Sciences will provide a exclusive supply of aptamer materials, which are the raw materials for the diagnostic reagent, along with the transfer of lung cancer diagnostic technology using the company's diagnostic kits. Apidi Healthcare is expected to handle all aspects of commercialization, including the establishment of production facilities in India, clinical trials, approvals, and distribution.
Aptamer Sciences will be able to secure additional revenue from royalties based on the sales generated after commercialization.
An official from Aptamer Sciences noted, "If we successfully enter the South Asian market, including India, with a cooperation model like this, we plan to apply the same model to expand business into other overseas markets."