G2GBIO is showing strength early in the session on the 30th. The rally came after news that it will begin developing long-acting injectable drugs with a major European pharmaceutical company.
As of 9:08 a.m. that day, G2GBIO was trading at 245,500 won, up 37,500 won (18.03%) from the previous session.
G2GBIO said on the 29th that it signed a research collaboration agreement with a large Europe-based pharmaceutical company to develop long-acting injectable drugs, based on its core "InnoLAMP" platform. G2GBIO will develop formulations needed to evaluate the partner's peptide-based drug, and the partner will conduct animal studies using those formulations.
Starting with a co-development agreement with a global pharmaceutical company in 2023, G2GBIO has pursued contract development and manufacturing organization (CDMO) collaboration with a U.S. global company and, this year, a contract with Boehringer Ingelheim. This collaboration is its fourth with a global big pharma.=