[Market Highlight] NeoImmuneTech Surges 13% on Expectations for Exclusive North American Sales of Rare Disease Treatment

NeoImmuneTech is showing strong gains in early trading.

As of 9:13 a.m. on December 18, NeoImmuneTech was trading at 760 won, up 13.94% (93 won) from the previous day. The surge in investor sentiment is attributed to news that the company has acquired North American rights to a rare disease treatment approved by the U.S. Food and Drug Administration (FDA) from an American pharmaceutical company.

NeoImmuneTech announced the previous day that it will acquire exclusive rights (including sales, distribution, and trademark rights) for Endari, a treatment for sickle cell disease (SCD), as well as its generic versions, in the United States and Canada from U.S. biotech firm Emmaus Life Sciences. The contract is scheduled to be signed on December 24, U.S. time, and the total contract amount exceeds 10% of the company’s most recent annual equity capital (approximately 41.9 billion won).

Endari is an oral treatment for sickle cell disease that received FDA approval in 2017. It is used as an adjunct therapy to reduce the frequency of pain crises. NeoImmuneTech explained that through this agreement, it has secured an asset that can be immediately commercialized in the North American market without clinical or regulatory risks.