[Featured Stock] SMAC's Subsidiary Advances COVID-19 Neutralizing Antibody Discovery 'Strong Performance'

[Asia Economy Reporter Hyungsoo Park] Esmak's stock price is on the rise. The news that Park Wonju, Commissioner of the Korean Intellectual Property Office, visited its subsidiary Dinona appears to have influenced the stock price. Expectations are growing for the development of therapeutic antibodies for the novel coronavirus infection (COVID-19).

As of 11:21 AM on the 6th, Esmak is trading at 1,230 KRW, up 4.24% from the previous trading day.

Earlier, Commissioner Park Wonju visited Dinona on the 3rd. Dinona introduced to Commissioner Park its development strategy related to treatments for acute respiratory distress syndrome associated with cytokine storms in COVID-19 patients. Dinona plans to file a patent related to viral acute respiratory distress syndrome.

Recently, Dinona is reported to have completed a technical review to discover neutralizing antibodies against the COVID-19 virus from the blood of recovered patients.

They are developing COVID-19 virus therapeutics through two approaches: the development of antibodies that act directly on the COVID-19 virus and antibodies for treating acute respiratory distress syndrome that act on the immune system.

A company official stated, "Dinona, introduced by the Korean Intellectual Property Office, has decided to participate in the 'COVID-19 Virus Infection Monkey Model Demand Survey' organized by the COVID-19 research committee of the National Primate Research Center at the Korea Research Institute of Bioscience and Biotechnology. We will actively proceed with therapeutic development by joining the government-level COVID-19 virus therapeutic development project."