[Featured Stocks] Genco and Qurocom Rally on COVID-19 Vaccine Clinical Trial Service Contract

'Smagen' Signs Preclinical Research Service Contract with International Vaccine Institute
Smagen Shares Held by Genco 35.2%, Qurocom 64.7%

[Asia Economy Reporter Minwoo Lee] Domestic bio company Smagen's announcement of full-scale development of a novel coronavirus infection (COVID-19) vaccine has caused the stock prices of Qurocom and Genco, which hold shares in the company, to surge.

According to the Korea Exchange on the 6th, as of 9:40 AM, Genco's stock price is showing 1,650 won, up about 15% from the previous day. Qurocom is also trading at 2,845 won, up 8.17% from the previous day.

This appears to be because Smagen, a developer of acquired immunodeficiency syndrome (AIDS) vaccines invested in by the two companies, signed a preclinical research service contract with the International Vaccine Institute (IVI) the day before to verify the efficacy and side effects of a COVID-19 vaccine using 'VSV vector technology.' Genco and Qurocom hold 35.22% and 64.78% of Smagen's shares, respectively.

VSV vector technology uses adenovirus as a viral vector (carrier) to produce antibodies in the human body. The COVID-19 vaccine developed by Smagen will load the core antigen of COVID-19 onto the viral vector. When the vaccine is administered, the COVID-19 antigen is introduced into the body through the viral vector, triggering an immune response.