[Featured Stock] Oditek Rises on Highlighted Gene Editing Technology Transfer from Affiliate JinCell Biotech and ToolGen
Oditech is showing strong performance. It is interpreted that its affiliate Jinsel Biotech, which signed a CRISPR gene-editing technology transfer agreement with ToolGen, has attracted attention.
As of 10:15 AM on the 17th, Oditech is trading at 4,790 KRW, up 7.52% compared to the previous day.
The UK Medicines and Healthcare products Regulatory Agency (MHRA) announced the approval of Casgevy, the first medicine authorized using CRISPR gene-editing technology. The gene-editing technology used in Casgevy was awarded the Nobel Prize in Chemistry in 2020.
MHRA approved the treatment for patients aged 12 and older with sickle cell disease and beta-thalassemia. Casgevy was developed by Vertex Pharmaceuticals and CRISPR Therapeutics. Until now, the only treatment was bone marrow transplantation, which is a very difficult procedure accompanied by severe side effects.
ToolGen has developed and advanced all generations of gene-editing scissors: first-generation Zinc Finger Nuclease (ZFN), second-generation Transcription Activator-Like Effector Nuclease (TALEN), and third-generation CRISPR-based gene scissors. In particular, it holds numerous patents related to CRISPR gene-editing scissors.
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Meanwhile, Oditech’s affiliate Jinsel Biotech signed a CRISPR gene-editing technology transfer agreement with ToolGen in 2021. Jinsel Biotech obtained the rights to use ToolGen’s core CRISPR gene-editing technology for plant-based biopharmaceutical production, while ToolGen earns royalty revenue. As of the end of Q3 this year, Oditech holds a 30.7% stake in Jinsel Biotech.
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