On the 18th, DXVX's stock price rose by over 12% early in the session. This follows news that DXVX's subsidiary has signed a technology transfer agreement for a next-generation drug delivery platform (ACP) amounting to about 500 billion won.
As of 9:35 a.m. on the 18th, DXVX is trading at 2,585 won, up 285 won (12.39%) compared to the previous trading day.
DXVX announced that its subsidiary, Evixgen, has signed a contract to license out its next-generation drug delivery platform (ACP) technology to a U.S. bio company for approximately 500 billion won. Evixgen is a drug development specialist in which DXVX holds a 66.2% equity stake.
Through this contract, Evixgen has granted its partner a limited exclusive right to practice the ACP patent, and the partner will pay Evixgen a total of 500 billion won in contract fees and royalties based on development milestone payments. Royalties will be separate for ten years after commercialization.
The ACP platform developed by Evixgen is a peptide-based drug delivery technology designed with a unique structure. It can effectively and stably deliver drugs to internal tissues and cells through simple combination or mixing with various drugs. It is also evaluated as a next-generation technology with high scalability, possessing a wide range of applicability from low molecular compounds, peptides, and nucleic acids to antibodies.