[Featured Stock] Biolog Device Surges on Expectations of FDA Approval for COVID-19 Preventive Agent

[Asia Economy Reporter Park Soyeon] Biolog Device is showing strong performance.

As of 10:24 AM on the 3rd, Biolog Device is trading at 4,640 KRW on the KOSDAQ market, up 385 KRW (9.05%) from the previous day.

This reflects expectations for FDA approval of a nasal inhalation blocker that can eliminate the COVID-19 virus, including the Delta variant. Salbacion received FDA approval for the sale of the nasal bacterial preventive agent (covixyl-G) in November last year, and this product (covixyl-V) is specialized in blocking COVID-19, including the Delta variant.

Biolog Device made an investment in Salbacion USA through its subsidiary. Salbacion is a medical device innovation company located in Englewood Cliffs, New Jersey. It is developing a nasal inhalation COVID-19 blocker with support from the National Cancer Institute (NCI), an agency under the U.S. National Institutes of Health (NIH).

The expectation for product approval of the nasal inhalation COVID-19 blocker (covixyl-V), for which Salbacion USA?invested in through the subsidiary?has requested FDA approval, is considered the reason for this. Currently, an application for emergency use authorization has been submitted to the FDA, and commercial use for the general public is under review.

A Salbacion official stated, "The nasal spray covixyl-V targets the nasopharynx, identified as the main viral entry point, making it effective, and this efficacy has been confirmed through non-clinical trials. In particular, studies using the Syrian hamster model, which is the same target as Pfizer and Moderna vaccine development, showed a 99.9% blockage of COVID-19."

The company stated that the raw materials for Salbacion's nasal COVID-19 blocker are safe and registered with the FDA and the European Medicines Agency, and that safety regarding toxicity, human metabolism, pharmacological and immunological effects has been proven. The related technology has been filed as an international PCT patent.