[Market Focus] Avion Hits Upper Price Limit for Two Consecutive Trading Days

Impact of Antibody Therapy Technology Export Agreement

Avion has hit the upper price limit for two consecutive trading days following news that it will export the technology for its independently developed antibody therapy.

As of 9:48 a.m. on this day, Avion's stock price on the KOSDAQ market was up by the daily maximum of 29.91%, reaching 7,600 won. Avion also closed at the upper price limit of 5,850 won the previous day.

On the previous day, Avion announced that it had signed a joint development and license agreement worth approximately $1.3 billion (about 1.7655 trillion won) for its antibody drug 'ABN501'. Under the agreement, Avion will grant the counterparty an exclusive license for ABN501, and research, development, and commercialization will proceed. ABN501 is an antibody drug that binds to the extracellular domain of the 'Claudin3' cell membrane and attacks cancer cells through antibody-dependent cellular cytotoxicity or other platform technologies.

If development succeeds, Avion could receive milestone payments of $58 million (about 7.94 billion won) per targeted antibody, totaling $290 million (about 397 billion won). If commercialization succeeds, milestone payments will be $200 million (about 273.8 billion won) per antibody, totaling $1 billion (about 1.369 trillion won).