[Edaily Reporter Kwon Oh Seok ] #PROTEINA CO., LTD.’s stock price is surging in early trading. It appears that buying interest is surging following news that the company is pursuing joint research with Onconic Therapeutics Inc. on a next-generation anticancer drug.

According to MP Doctor on the 15th, as of 9:15 a.m., PROTEINA CO., LTD.’s stock is trading at 25,800 won, up 14.92% from the previous trading day.
Earlier today, PROTEINA CO., LTD. issued a press release stating, “We have signed a strategic memorandum of understanding (MOU) with Onconic Therapeutics Inc. to collaborate on research and development in the field of next-generation anticancer drugs with novel mechanisms of action (modalities).”
Through this agreement, the two companies will jointly research new drugs based on “Molecular Glue” technology in the field of next-generation targeted protein degraders (TPDs). Furthermore, the scope of their joint research includes the development of antibody-oligonucleotide conjugates (AOCs) and degrader-antibody conjugates (DACs) in the field of next-generation antibody-drug conjugates (ADCs), as well as the establishment of a platform based on these technologies.
The strategy is to combine PROTEINA CO., LTD.’s antibody design technology with Onconic Therapeutics Inc.’s R&D capabilities in anti-cancer drugs to enhance efficiency and increase the likelihood of success during the candidate discovery phase. The two companies will also collaborate on building a next-generation ADC platform. AOCs and DACs, as next-generation ADCs, are gaining attention as modalities capable of overcoming the limitations of existing cytotoxic anticancer drug-based ADCs.
Yoon Tae-young, CEO of PROTEINA CO., LTD., stated, “Success in both molecular adhesives and next-generation ADCs depends on how accurately we can interpret interactions,” adding, “We expect that the combination of PROTEINA CO., LTD.’s platform and Onconic Therapeutics Inc.’s experience in developing new anticancer drugs will lead to the identification of viable candidate compounds.”