[Special Stock] Quratis Expected to Secure 4.5 Trillion KRW Philippine Tuberculosis Vaccine Market... World's First Technology Value Proven

Curatis is showing strong performance. Securities firms' analyses that the vaccine business will yield concrete results in overseas markets seem to be influencing the stock price.

As of 9:53 AM on the 12th, Curatis is trading at 3,410 KRW, up 7.23% from the previous day.

Hyunkyum Kim, a researcher at KB Securities, introduced, "Curatis has signed a term sheet on the direction and key transaction terms of a vaccine platform technology cooperation project with the Health and Medical Education Office under the Imam Hussain Holy Shrine Foundation in Iraq and the Korea-Iraq Friendship Foundation."

He added, "The term sheet represents the first milestone to officially launch the business, including licensing of the vaccine platform and establishment of a local vaccine factory and research institute in Iraq. It includes consulting on the construction plan for the vaccine manufacturing plant and transaction terms worth 25 billion KRW for vaccine platform technology development. If the construction of the local vaccine factory in Iraq proceeds in earnest, the business scale is expected to reach several hundred billion KRW."

Curatis is also planning to enter the Philippine tuberculosis vaccine market. On the 25th of last month, Curatis decided to raise a total of 16 billion KRW through a third-party allotment capital increase of 12 billion KRW and convertible bond issuance of 4 billion KRW.

Researcher Kim analyzed, "Funds will be raised targeting companies such as Linfra Corp. in the Philippines," adding, "The purpose is to enter the Philippine tuberculosis vaccine market, which is worth approximately 4.5 trillion KRW."

He further noted, "Philippine President Ferdinand Marcos Jr. has introduced a project called PAAP-TB, led by the Minister of Health, aiming to eradicate tuberculosis after his election, operating a national tuberculosis eradication policy." He also emphasized, "Currently, a joint venture with Linfra is underway," and "They are collaborating on overall business strategies including tuberculosis vaccine development, product approval, sales, and distribution." Curatis is expected to initially focus on the Philippine market and later expand to ASEAN countries.

The tuberculosis incidence rate in the Philippines is known to be the highest in the world, with 650 cases per 100,000 people. Tuberculosis is a disease caused by infection of the lungs, kidneys, nerves, and other organs by tuberculosis bacteria. According to the World Health Organization (WHO), 10.6 million tuberculosis patients occurred in 2021 alone, with 1.6 million deaths. Demand for tuberculosis vaccines is also increasing. WHO estimated the investment value for tuberculosis vaccines at 372 billion USD (approximately 500 trillion KRW) in a report published last year.

In addition to the world's first adult and adolescent tuberculosis vaccine, which is Curatis' main development item, the company is actively developing various therapeutic areas using an immune-enhancer platform technology, various vaccines, and mRNA platform technology capable of customized treatment targeting multiple diseases. Curatis' QTP101 is receiving significant attention as it is the fastest developing tuberculosis vaccine currently under development. Curatis is accelerating development with the goal of launching QTP101 in 2025. Curatis is conducting global Phase 2b/3 trials for QTP101, an adolescent and adult vaccine that boosts the immune response formed by BCG. The development is focused on five Southeast Asian countries, aiming for product approval in 2025.