Inventage Lab·Qurient Rebound, Hanmi Falls 10% as Eppe Prices Emerge[K-Bio Pulse]

[Song Young Doo, Edaily Reporter] Pharmaceutical and biotech stocks moved on company-specific developments on October 14 after broad sector weakness the previous day. Inventage Lab drew attention with a gain of more than 14%, driven by a U.S. patent allowance for its 12-month veterinary drug formulation technology and expectations for global commercialization. Qurient also advanced following the unveiling of the dual-payload antibody-drug conjugate(ADC) platform it is commercializing with Lonza. Hanmi Pharmaceutical, however, fell more than 10% as pricing information for its obesity drug Eppe raised competitiveness concerns alongside a weaker earnings outlook.

Inventage Lab share price trend.(Source=KG Zeroin MP Doctor)

Inventage Lab Rebounds on U.S. Patent News and Existing Business Expectations

According to KG Zeroin‘s MP Doctor, Inventage Lab closed at 26,700 won on October 14, up 14.35%, or 3,350 won, from the previous session.

The company announced that it had received a U.S. patent allowance for technology used in a 12-month sustained-release peptide injection for veterinary chemical castration. The project is being developed jointly with a global animal health company experienced in developing and commercializing gonadotropin-releasing hormone(GnRH) agonist products for nonsurgical neutering of companion animals. The partner’s name was not disclosed.

The patent allowance marks an extension of Inventage Lab‘s long-acting peptide formulation technology to a 12-month dosing interval and establishes a basis for securing U.S. intellectual property rights. The company said it is discussing further commercialization steps with its partner, including the selection of a commercial manufacturing site and technology transfer of its IVL-DrugFluidic manufacturing platform.

Its business model, which combines formulation, manufacturing equipment and process technology in a single transfer package, also attracted attention. Inventage Lab emphasizes its ability to design and develop equipment and processes tailored to each formulation, supporting partners’ scale-up and commercial manufacturing operations. If the discussions lead to contracts, the company expects additional revenue from equipment and process technology transfers alongside formulation development.

The company also attributed part of the rally to a rebound following recent declines.

“Our shares had fallen considerably with the broader market, without any particular company-specific issue,” an Inventage Lab representative said. “There were already expectations surrounding the business developments we had communicated to the market, and today‘s U.S. patent allowance announcement appears to have strengthened the rebound.”

Business discussions with European partners and expanding evaluations of its subcutaneous(SC) formulation platform were other factors cited by the company.

“During our recent European trip, we discussed business opportunities with several companies, including those in veterinary medicines, and shared those developments with investors,” the representative said. The company added that the number of material transfer agreements(MTAs) related to its BIOFLO SC formulation platform is growing to approximately six.

Qurient and Lonza’s ADC Platform Offers Revenue-Sharing Potential Across Multiple Deals

Qurient advanced on expectations for its dual-payload ADC platform business with global partner Lonza. The stock closed at 21,400 won, up 9.18%, or 1,800 won.

The company said Lonza unveiled their SYN-duo CC platform for the first time at the 17th World ADC 2026 conference in San Diego.

The presentation of the platform‘s technical features and development data followed the previous day’s commercialization agreement announcement, reinforcing expectations for further business opportunities. Lonza had announced on October 12, local time, that it signed an exclusive license agreement to use Qurient‘s cyclin-dependent kinase 7(CDK7) inhibitor in dual-payload ADCs.

The agreement centers on combining Qurient’s CDK7 inhibitor with Lonza‘s linker-payload technology for global pharmaceutical companies.

Rather than a conventional arrangement in which Qurient transfers technology to Lonza in exchange for upfront and milestone payments, the partnership focuses on jointly commercializing the platform and sharing revenue from subsequent licensing agreements with third parties. Upfront payments, milestones and royalties will be divided according to an agreed ratio.

The partnership is not limited to a single ADC candidate. The platform can be applied to different targets pursued by multiple pharmaceutical companies, allowing Qurient to receive a share of revenue from each subsequent licensing agreement. This establishes a basis for generating recurring revenue across multiple ADC development projects.

Dual-payload ADCs carry two drugs with different mechanisms of action on a single antibody. The approach aims to address resistance and nonresponse associated with existing ADCs that rely on a limited range of payload classes.

The presentation also introduced Qurient’s QP101 candidate, which uses the same architecture. According to the company, QP101 demonstrated improved tumor inhibition compared with Enhertu in Enhertu-resistant and HER2-positive patient-derived xenograft(PDX) models. These are preclinical findings; efficacy and safety in humans must be established through clinical trials.

“Our partnership with Lonza opens a path for drug developers worldwide to readily use Qurient‘s CDK7 inhibitor payload within Lonza’s global network,” Qurient CEO Nam Ki-yean said. “We will make the dual-payload ADC platform available across the global biotech industry to accelerate next-generation ADC development.”

Hanmi Falls as Eppe Prices Emerge, Extending Decline to Four Sessions After Approval

Hanmi Pharmaceutical continued to decline following approval of Eppe, its domestically developed GLP-1 obesity treatment. The stock closed at 534,000 won on October 7, the approval date, but fell to 404,500 won on October 14. It has dropped 24.25% from the approval-day close, declining for four consecutive trading sessions since then.

According to industry sources, pricing information for Eppe‘s different doses became available that day. The listed distribution price per pen is 24,200 won for 2 mg, 40,700 won for 4 mg, 57,200 won for 6 mg, 69,300 won for 8 mg and 74,800 won for 10 mg.

At one injection per week, a four-week supply would cost 96,800 won for 2 mg and 162,800 won for 4 mg. The corresponding prices rise to 228,800 won for 6 mg, 277,200 won for 8 mg and 299,200 won for 10 mg.

While the low starting dose may reduce the initial treatment burden, costs exceed 100,000 won per four weeks as doses increase. In particular, the listed distribution price of approximately 300,000 won for four weeks of the 10 mg dose could weigh on investors who had expected lower pricing to drive broader market adoption.

Hanmi said it could not disclose specific Eppe supply prices but emphasized that “pricing was set with patient access as the top priority” and that “our focus is on the value of improving public health rather than simple price competition.”

“Eppe is a prescription medicine not covered by health insurance, and the company’s supply price differs from the final amount patients pay,” it added. Hanmi explained that final costs vary depending on medical institutions‘ consultation and prescribing arrangements, and that disclosing supply prices could cause confusion about patients’ actual expenses.

Earnings concerns also emerged. Kiwoom Securities lowered its target price for Hanmi that day, forecasting third-quarter results below market expectations due to delayed recognition of licensing upfront payments and research and development expenses.