[Market Focus] Woojung Bio Hits Upper Price Limit on AI-Based Therapeutic Development Partnership with Galux

Woojung Bio surged to the upper price limit early in the trading session.

As of 9:05 a.m. on October 2, Woojung Bio soared by 29.77% (up 515 KRW) compared to the previous day, hitting the upper price limit at 2,245 KRW.

The news that the company has entered into a strategic partnership with Galux, an artificial intelligence (AI)-based new drug development company, for therapeutic development is seen as fueling investor sentiment.

The two companies plan to collaborate on establishing a rapid non-clinical verification system for AI-based drug candidates, discovering new targets, and jointly conducting innovative new drug research and development (R&D). The aim of this partnership is to accelerate the development of antibody therapeutics, which must meet complex requirements, by combining Woojung Bio's non-clinical capabilities with Galux's AI drug development platform.

Chun Heejeong, CEO of Woojung Bio, stated, "As the demand and research for AI-based drug development accelerate, the importance of verification through non-clinical data is also increasing," adding, "With this agreement, we will further strengthen Woojung Bio's differentiated non-clinical service capabilities."