[Featured Stock] Excel Therapeutics Hits Upper Limit on News of Contract with Chinese Company

As of 9:30 AM on the 8th, Excel Therapeutics' stock price on the KOSDAQ market is trading at 4,195 KRW, up 29.88% from the previous closing price. This appears to be due to news of a contract with a Chinese company.

Excel Therapeutics is a specialized company in cell culture media, which can be considered a raw material for cell and gene therapy products. On this day, Excel Therapeutics announced that it had signed a main contract with the Chinese bio raw material and cosmeceutical specialized company, Blue Magee Biotechnology, for the exclusive distribution and sales of 'T-cell media' within China. Through this contract, Excel Therapeutics will begin full-scale sales of its 'Cellker Media' in China, one of the world's largest biopharmaceutical markets. The contract period is until March next year, and the detailed terms have been kept confidential under a non-disclosure agreement between the two companies.

According to the company, Blue Magee Biotechnology is the global number one company holding more than 40% of the worldwide sales volume in the hyaluronic acid (HA) industry. Blue Magee has adopted the media business as its second future core business following its existing hyaluronic acid business and has chosen Excel Therapeutics as its strategic business partner. According to a global market research firm, the size of the Chinese media market is estimated to exceed 1 trillion KRW this year.

Excel Therapeutics reported sales of 1.9 billion KRW and a net loss of 9.5 billion KRW last year.