Aimed Bio (009K0.KQ) rose 6% on expectations that the company could emerge as a top-tier player in antibody-drug conjugate (ADC) development.
Shares of Aimed Bio traded at 49,400 won as of Wednesday, up 2,700 won (+5.78%) from the previous day, according to Korea Exchange data. The stock earlier climbed as much as 9.64% to 51,200 won during intraday trading. The rally appears driven by a Shinhan Investment Corp. report released Wednesday describing the company as "beginning its full-fledged leap to become a global top-tier ADC drug developer."
"Aimed Bio precisely discovers antibodies using cells derived from actual cancer patients and has co-developed optimized payloads with Samsung Biologics," said Lee Ho-chul, an analyst at Shinhan Investment. "The company has been jointly developing an ADC toolbox with Samsung Biologics since 2023." An ADC toolbox refers to ADC technologies, platforms and know-how that contract development and manufacturing organizations (CDMOs) internalize to provide to clients.
"AMB303, which was licensed out to SK Plasma, incorporates a next-generation Topoisomerase-1 inhibitor payload (camptothecin class) that Aimed Bio co-developed with Samsung Biologics," Lee said. "We expect positive synergies as the company can directly design and select drugs suitable for its proprietary antibodies."
The rapid growth of the global ADC market is boosting Aimed Bio's valuation. Shinhan Investment projects the ADC market to grow from $17.3 billion (approximately 25.5 trillion won) this year to $60.4 billion (approximately 89 trillion won).
"Attention should be paid to the solid tumor ADC drug that Aimed Bio licensed to Boehringer Ingelheim," Lee said. "It is highly likely to be applied to targets such as KRAS where unmet medical needs are significant, enabling a virtuous cycle of collaboration-based milestone payments and royalty income."
