[Featured Stock] GI Innovation Rises on Technology Transfer from Japanese Pharmaceutical Company

G.I. Innovation is on the rise following news that it has licensed its allergy treatment 'GI-301' to a Japanese pharmaceutical company.

As of 9:59 AM on the 17th, G.I. Innovation was trading at 23,550 KRW, up 1.51% from the previous trading day.

The day before, G.I. Innovation signed a contract with Maruho, a Japanese pharmaceutical company specializing in dermatological diseases, receiving a non-refundable signing fee, as well as milestone payments for clinical development, commercialization, and sales commissions. Maruho will lead the clinical trials and commercialization of GI-301 in Japan. The contract is valued at approximately 298 billion KRW.

Earlier, Japanese Prime Minister Fumio Kishida held a cabinet meeting at the Tokyo Prime Minister's Office in May, declaring a "war on pollen allergy" with the goal of reducing pollen levels to half of the current amount within 30 years.