[Asia Economy Reporter Minwoo Lee] Nexten Bio's stock price is on the rise. It appears that the news of the groundbreaking obesity treatment drug developed by the overseas pharmaceutical company Novo Nordisk, which its subsidiary recently agreed to collaborate with, receiving approval for use from the U.S. Food and Drug Administration (FDA) has been highlighted.
At 10:13 AM on the 16th, Nexten Bio's stock price recorded 8,640 KRW, up 4.60% compared to the previous day. The recent FDA approval of Novo Nordisk's new obesity treatment drug seems to have acted as a positive factor.
Recently, the U.S. FDA approved Novo Nordisk's injectable drug "Wegovy" for obesity treatment. Wegovy is a high-dose injectable form of "semaglutide," which was originally used for diabetes treatment. The drug increases the dosage of a blood sugar regulating medication to be used for obesity treatment. Patients who received Wegovy reportedly lost an average of 15% of their body weight. Considering that existing obesity treatments typically result in a 5-9% weight reduction, this is regarded as a groundbreaking achievement. Foreign media even reported that a "new era" has arrived.
Meanwhile, Nexten Bio announced on the 7th that its subsidiary Rosbivo Therapeutics (hereafter Rosbivo) signed a Confidential Disclosure Agreement (CDA) with Novo Nordisk for the joint development and technology export of diabetes treatments. Accordingly, the two companies plan to establish a plan for the technology export of the miRNA-based ‘RSVI-301/302’ diabetes treatment new drug pipeline and the joint development of diabetes treatments.
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