[NA Eun-kyung, Edaily Reporter] Korean pharma and biotech shares were mixed Tuesday as Curacle and G2GBIO rallied on license-out expectations. Ildong Pharmaceutical advanced ahead of top-line data for its oral obesity drug.

Curacle surges on multiple MTAs

Curacle closed up 19.24% at 5,640 won, according to MP Doctor(formerly Market Point). The move followed a PharmEdaily pay-to-read article that said out-licensing of MT-101, a preclinical candidate for chronic and acute kidney injury, appears imminent.

Curacle CEO Yoo Jae-hyun presents U.S. Phase 2a results for CU06, a treatment candidate for diabetic macular edema, during a press briefing at NH Financial Center in Yeouido, Seoul, in February 2024. (Source: Kim Ji-wan, Edaily Reporter)

Curacle has signed multiple material transfer agreements with overseas drugmakers, with most added after BIO USA in July, the company said. “An MTA typically takes three to six months before a go or no-go decision,” a Curacle official said, adding that entry into the term-sheet stage is near. MT-101 still has nonhuman primate testing ahead, but management says interest reflects its global competitiveness.

Investors drew parallels to Olix, which rebounded from an earlier program return and later signed deals with Eli Lilly and L’Or?al, fueling a sharp share-price recovery.

G2GBIO rallies before lock-up expiry

G2GBIO jumped 26.08% with a lock-up expiration set for Sept. 15. About 2.1 million shares, or 39.2% of the company’s outstanding stock, will become eligible for sale one month after listing. The gain suggested investors are betting on announcements of a co-development or license-out deal.

Market chatter has linked G2GBIO not only to Boehringer Ingelheim but also to three additional global pharmas, identified as A, B and C. The company said it welcomes partnerships with Boehringer Ingelheim and others but declined to provide details. Management has contacted venture investors to consider block trades instead of open-market selling as the lock-up ends.

Ildong climbs on oral obesity-drug catalyst

일동제약 본사 전경 (사진=일동제약)

Ildong Pharmaceutical rose 9.93% to 23,800 won as expectations grew for top-line results on Sept. 29 from ID110521156, an oral, once-daily small-molecule GLP-1 receptor agonist under development at subsidiary Yunovia. Ildong disclosed an investor relations meeting for the same date.

Unlike injectable GLP-1 therapies such as Wegovy and Mounjaro, ID110521156 is a small molecule. The company aims for lower production costs and a simpler dose-titration scheme than peers, and it draws comparisons to Eli Lilly’s oral GLP-1 candidate orforglipron. In June, partial data showed fewer gastrointestinal adverse events typical of the class and no liver-toxicity signal, while a 100㎎ cohort recorded up to 11.9% weight loss over four weeks. The coming readout includes doses above 100 mg.

Ildong’s broader pipeline has also seen activity. On Sept. 8, oncology affiliate Idience announced license-out agreements for venadaparib with partners in the Eurasian Economic Union and the Gulf Cooperation Council. The company said the deals validate the asset and support a global rollout, and it plans to accelerate additional regional out-licensing.