[Market Focus] Aptamer Science Hits Upper Limit on Entry into Indian Market with Lung Cancer Diagnosis Kit

Signed Production and Sales Contract

Aptamer Science hit the upper price limit on May 20 following news of signing an overseas production and sales contract for its early lung cancer diagnosis kit.

As of 11:40 a.m. on this day, Aptamer Science shares were trading at 1,406 won on the KOSDAQ market, up 29.94% (324 won), the maximum daily increase. The stock opened at 1,140 won and quickly surged.

Aptamer Science announced that it has signed a contract with Indian medical device company Appidi Healthcare to produce and sell its early lung cancer diagnosis kit, 'Aptotetect Lung PCR 7', in four South Asian countries: India, Bangladesh, Nepal, and Sri Lanka.

Aptamer Science will transfer its lung cancer diagnostic technology using this kit and exclusively supply the raw materials for the diagnostic reagents. Appidi Healthcare will be responsible for building local production facilities, conducting clinical trials, obtaining regulatory approvals, and distribution. After commercialization, Aptamer Science will receive royalty revenue based on sales.

The company signed a local sales and production partnership MOU with Appidi Healthcare last year and has been pursuing entry into the Indian market. Although exporting products manufactured in Korea was considered, the company shifted to local production due to concerns over production costs and international logistics expenses.