[Market Focus] Caregen Surges on Report of Imminent Technology Transfer

As of 9:31 a.m. on May 12, Caregen's share price on the KOSDAQ market was trading at 29,550 won, up 25.74% from the previous session's closing price. This surge appears to be driven by a report from Hyundai Motor Securities on the same day, which stated that technology transfer for Caregen's age-related macular degeneration treatment is imminent and that the efficacy of its oral diet health supplement is positive.

Caregen is a company that produces and sells pharmaceuticals, health functional foods, medical devices, and cosmetics, based on research and development of biomimetic peptides and growth factor proteins. The company has built a large-scale peptide library, including over 760 patents registered both domestically and internationally. Caregen sells specialized therapy products (fillers, mesotherapy) and functional cosmetics, which incorporate peptide and growth factor ingredients, as well as its proprietary dual encapsulation and sustained-release technologies, in 130 countries worldwide. According to its consolidated financial statements, Caregen recorded sales of 82.6 billion won and operating profit of 34.2 billion won last year.

On this day, Hyundai Motor Securities released a 'Not Rated' report, stating that Caregen's first new drug candidate for age-related macular degeneration, 'CG-P5', has completed Phase 1 clinical trial enrollment, and that the company plans to announce final data in July this year. According to the company, it is estimated that a technology transfer (L/O) agreement could be signed by June. CG-P5, which is administered as an eye drop, offers greater convenience compared to existing intravitreal injection treatments.

Hyundai Motor Securities also reported that the results of clinical trials for the oral GLP-1 supplement 'Coglutaide' are scheduled to be announced in June. 'Coglutaide', a health functional food, is taken orally once a day, but is being developed with the concept of achieving weight loss effects comparable to those of the injectable drug Wegovy. Analyst Oh Byungyong stated, "If the oral 'Coglutaide' proves to deliver weight loss effects similar to Wegovy, it could become another blockbuster product in the domestic health functional food sector," adding, "The company plans to out-license the regional rights for 'Coglutaide' within this year."

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