[Asia Economy Reporter Kwon Jae-hee] The stock price of bio company Vinex is showing strong performance.
As of 2:22 PM on the 7th, Vinex's stock price is trading at 17,300 KRW, up 7.12% compared to the previous trading day.
During the session, it surged to 18,800 KRW before giving up some of the gains.
The strong stock performance of Vinex is attributed to the news that Professor Seol Dae-woo of Chung-Ang University College of Pharmacy developed a gene delivery system, a core technology for gene therapy. Vinex had invested 23.5% equity in Genemad, which was founded by Professor Seol, back in 2013.
The gene delivery system is a new concept therapeutic agent for treating genetic diseases caused by gene mutations, but its development has faced difficulties.
It is known that Professor Seol took 18 years to develop and complete the new gene delivery system.
Professor Seol is also advancing follow-up processes by developing various gene therapies for hereditary eye diseases such as retinitis pigmentosa and retinitis pigmentosa, as well as neurological genetic diseases like Rett syndrome.
According to Professor Seol, discussions are currently underway with several domestic and international pharmaceutical companies regarding technology partnerships. To prevent technology leakage, manufacturing will be conducted only within Korea.
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