Kainos Medicine shares rally on partnership with Jiangsu Aidi for global sale of AIDS therapy
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Kosdaq-listed Kainos Medicine shares gained 6.1 percent to close Monday at 4,260 won ($3.84).
Jiangsu Aidi has co-developed ACC007, a non-nucleoside reverse-transcriptase inhibitor (NNRTI), based the KM-023 technology from Kainos Medicine.
Jiangsu Aidi completed a Phase 3 trial of ACC007 in China and submitted a new drug application to China’s National Medical Products Administration (NMPA) in July. NMPA’s Center for Drug Evaluation (CDE) responsible for drug marketing authorization applications recently completed on-site inspections for its review of the drug.
The two companies agreed to set up a joint venture to sell KM-023 in global markets except Korea and China, which is pending trial results and regulatory approval.
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