[Edaily Reporter KIM SAE-MI ] On the 26th, buying interest surged in the biotech and healthcare sector, driven by companies seeking new growth engines. SK BIOPHARMACEUTICALS(326030)saw its stock price—which had recently been under pressure—instantly rebound to the 90,000 won range following the introduction of a new epilepsy drug, while Xcell Therapeutics Inc. soared to its intraday price limit after identifying recombinant collagen as a new growth driver.

SK BIOPHARMACEUTICALS Bets 1.1 Trillion Won on ‘Opacalym’… Competes with Xenon for Next-Generation Epilepsy Drug

According to KG Zeroin MP Doctor (MP DOCTOR) on that day, SK BIOPHARMACEUTICALS closed at 91,600 won, up 7,200 won (8.53%) from the previous day. During the session, the stock rose as high as 94,800 won, extending its gain to 12.32%.

In particular, the stock price began to surge sharply around 11:00 a.m., shortly after the company announced a licensing agreement with U.S.-based Biohaven for “Opakalim” (BHV-7000), a late-stage clinical candidate for epilepsy. Trading volume for the day reached 597,598 shares, approximately 4.4 times the average volume over the previous 19 trading days.

On that day, SK BIOPHARMACEUTICALS signed an agreement to secure worldwide exclusive rights to Opakalim, follow-on Kv7 activator compounds, and the Kv7 discovery platform for up to $795 million (approximately 1.0996 trillion won). Notably, the non-refundable upfront payment alone totaled $400 million (approximately 553.2 billion won), marking the largest technology licensing deal in the history of South Korea’s pharmaceutical and biotech industry. Given that the company has placed a substantial bet before clinical results are available, this move is interpreted as SK BIOPHARMACEUTICALS placing a high value on Opakalim’s potential for success.

At the press conference held at 2:00 p.m. that day, the key aspect of this deal—a “direct-to-consumer multi-product system in the U.S.”—was highlighted. SK BIOPHARMACEUTICALS plans to leverage the local sales organization and network of epilepsy specialists it built while directly selling its in-house developed Excofry in the U.S. for Opacalym as well. The company calculates that it can boost profitability by selling both products without having to build a separate, large-scale sales network from scratch.

Lee Dong-hoon, President of SK BIOPHARMACEUTICALS, stated, “We will enter a new phase of direct sales of multiple products in the U.S. market,” and announced the goal of competing directly with global pharmaceutical companies.

SK BIOPHARMACEUTICALS had previously licensed the RPT candidate compounds “SKL35501” and “WT-7695” for up to $571.5 million (approximately 790.4 billion won) and $576 million (approximately 796.6 billion won), respectively, and has now signed three major technology licensing agreements totaling $1.9425 billion (approximately 2.6866 trillion won).

The market also took note of the fact that Opacalym is positioned as a competitor to “azetukalner” (XEN1101) from U.S.-based Xenon Pharmaceuticals. Both candidates are next-generation epilepsy treatments that regulate the Kv7 potassium channel in nerve cells.

Xenon is ahead in terms of development speed. Azetukalner met its primary endpoint in a Phase 3 clinical trial for partial seizures last March and is scheduled to submit a New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA) in the third quarter of this year. In contrast, Opakalim is currently undergoing the RISE2 and RISE3 Phase 2/3 clinical trials for partial seizures, with topline results from RISE3 expected in the second half of this year.

SK BIOPHARMACEUTICALS believes that even if Opacalym enters the market one to two years later than Azetukalner, it can compete by highlighting its tolerability, which reduces central nervous system adverse reactions such as drowsiness and dizziness. SK BIOPHARMACEUTICALS anticipates Opacalym’s U.S. launch as early as 2029.

Ultimately, the sharp rise in the stock price today is interpreted as reflecting expectations that SK BIOPHARMACEUTICALS will secure its second product for direct sales in the U.S. following “Xcopri” and will catch up to the frontrunner in the next-generation epilepsy market. The RISE3 topline results, to be released in the second half of this year, are expected to serve as the first test of the investment value of the 553.2 billion won upfront payment and the company’s ability to demonstrate competitiveness that surpasses Xenon.

Xcell Therapeutics Inc. Up 15% on Entry into New Recombinant Collagen Business

On that day, Xcell Therapeutics Inc. closed at 1,316 won, surging 176 won (15.44%) from the previous day. Early in the session, the stock soared to 1,482 won—hitting the daily price limit—on expectations for its new recombinant collagen business, but the gain narrowed to the 15% range by the end of the session.

This surge is believed to have been driven by strong buying interest as the new recombinant collagen business emerges as a key revenue source. Previously, on the 25th, Xcell Therapeutics Inc. announced that it had signed an exclusive domestic distribution agreement with China’s Shinya Bio for “Triple-Helix Structured Recombinant Human Collagen Type III.”

Triple-Helix Structured Recombinant Human Collagen Type III is characterized by its ability to replicate the triple-helix structure of human collagen using a CHO cell line as the expression host. CHO cells are derived from Chinese hamster ovaries and are a cell line widely used in the production of protein-based biopharmaceuticals.

The company explained that it does not use any animal- or human-derived ingredients as raw materials in its cultivation and production processes. Unlike conventional methods that directly extract collagen from animal tissues such as pigs or cattle, the company claims that producing the material through a recombinant process using CHO cells has enhanced the safety of raw material supply and ensured consistent quality.

Xcell Therapeutics Inc. plans to expand the applications of this material beyond the cosmetics and aesthetics markets in the future. Lee Eui-il, CEO of Xcell Therapeutics Inc., set a goal of generating over 10 billion won in sales from the collagen business by 2030.

In particular, the company expects this business to be more profitable than simple product distribution. A representative of Xcell Therapeutics Inc. emphasized, “Unlike typical distribution businesses with low profit margins, this venture handles high-value-added bio-raw materials, so its contribution to profits could be significantly higher,” adding, “Since there is already market demand and it is expected to grow further, this is a business initiative that can have a positive impact on the company’s sales even in the short term.”

Meanwhile, following the signing of a $350,000 (approximately 500 million won) contract with Xiangya Bio in March to supply exosome culture medium, Xcell Therapeutics Inc. has now secured exclusive rights to supply Xiangya Bio’s recombinant collagen in South Korea. Consequently, the companies have established a Korea-China bio-material cross-selling system in which Xcell Therapeutics Inc. supplies its culture media to China, while Shangya Bio supplies its collagen to Korea.