IDC Expands Asset Value to Over 200 Billion KRW… "Accelerating Commercialization on the Back of Financial Stability"

Land asset revaluation generates approximately 99 billion KRW in valuation gains;
Growing expectations for license-out deals based on SC platform and precision diagnostics technology

Prestige BioPharma IDC has secured approximately 99 billion KRW in revaluation gains through a reassessment of its land assets, laying the groundwork for improved financial structure and expanded commercialization.

Prestige BioPharma IDC, a wholly owned subsidiary of Prestige BioPharma, announced on the 11th that a recent revaluation of its land holdings resulted in approximately 99 billion KRW in revaluation gains. Reflecting this revaluation, the company's total assets have expanded to approximately 200 billion KRW. The company explained that by recording the true market value of its assets on the books, it has strengthened its financial foundation for R&D and business expansion. The revaluation is also expected to have a positive impact on the consolidated financial structure and fiscal soundness of the parent company, Prestige BioPharma.

Alongside improved financial stability, key R&D achievements are also gaining momentum. Prestige BioPharma IDC has recently been selected as a joint research institution for the government-led "Korean ARPA-H Project," under which it is developing AI-based structure-driven artificial protein therapeutics. The company is also advancing research on "PBP1710," a treatment for triple-negative breast cancer (TNBC), through the Korea Drug Development Fund (KDDF). The company expects that its selection for national R&D projects and the securing of patents will serve as growth drivers supporting pipeline value appreciation and expanded license-out opportunities.

In particular, industry interest is growing in the next-generation subcutaneous (SC) formulation platform "IDC224." IDC224 is a sustained-release drug delivery system that forms a gel inside the body after administration, slowly releasing the drug over time — a technology that enhances patient convenience and prolongs drug exposure. The company noted that since the technology was disclosed, it has been receiving inquiries and discussions from multiple pharmaceutical companies regarding formulation changes.

The PAUF protein-based diagnostic platform "IDC221" is also drawing attention for its commercialization potential. IDC221 is evaluated as having the capability to expand beyond early pancreatic cancer diagnosis into the precision medicine space, including the identification of patients most likely to respond to treatment. The company plans to actively pursue strategic partnerships and diagnostic technology license-out deals based on this platform.

Synergies with the parent company Prestige Biopharma are also anticipated. Prestige Biopharma recently achieved the successful global commercialization of its Herceptin biosimilar "Tuznue," and is expanding the commercialization of follow-on pipeline products such as an Avastin biosimilar.

A representative of the Prestige Biopharma Group stated: "This asset revaluation has made it possible to reflect the true value of IDC's core assets, thereby enhancing the group's overall financial stability and creating opportunities to pursue diverse financing strategies. We will combine our innovative drug R&D achievements with our global biosimilar commercialization capabilities to drive tangible increases in corporate value through platform technology and pipeline license-outs and global clinical development."

출처 : Biotimes(https://www.biotimes.co.kr/news/articleView.html?idxno=31636)