Amicogen, 'Unique Gene Evolution Technology' Competes with Alteogen... Also Expected to Benefit from COVID-19 Pandemic

[Financial News]  Stunning Value Research diagnosed on the 27th that Amicogen, which has secured competitive advantage with its unique gene evolution technology, is expected to be a growth driver as a competitor to Alteogen. However, they did not provide an investment opinion or target stock price.
Amicogen, which was listed in 2013, is a biotechnology company that produces special enzymes and bio-materials based on gene evolution technology.
Stunning Value Research stated, "The company's core technology is gene evolution technology that produces high-functional bio-materials through artificial gene mutations," and "The company completed patent registration for the point mutation technology RCM (Random Codon based Mutagenesis) in 2003, and completed the development of the gene recombination source technology RETT (Recombined Extension on Truncated Templates) in 2004 and registered the patent."
They further noted, "In particular, attention should be paid to the emergence of a new concept hyaluronidase derived from 'human skin' that is superior to Alteogen," adding, "This product shows high activity and excellent thermal stability at neutral pH and has dramatically improved immunogenicity issues."
In fact, Amicogen filed a patent application (application number 10-2025-0043723) for the new 'human skin' derived hyaluronidase on April 3, laying the foundation to lead the market without the risk of patent disputes.
Additionally, it is competitive in economic terms as mass production is possible.
Stunning Value Research believes the company's new hyaluronidase will be evaluated as a 'next-generation hyaluronidase' that overcomes the shortcomings of existing products and satisfies safety, efficacy, and economic efficiency.
According to Stunning Value Research, H's PH20 and A's ALT-B4 share the commonality of being human-derived recombinant hyaluronidases that overcome the limitations of animal-derived hyaluronidases, but they have not solved all existing problems. PH20, derived from testis protein, has issues with antibody formation due to innate immunogenicity, and low enzyme activity and thermal stability at neutral pH make repeated or high-dose administration difficult. Additionally, ALT-B4, developed based on PH20, partially improved PH20's shortcomings but did not solve the fundamental issues, and there are still possibilities of side effects and dosage limitations. Moreover, since it was developed based on PH20, it is not free from patent disputes.
Stunning Value Research emphasized, "It is time to pay attention to the emergence of Amicogen's new 'human skin' derived hyaluronidase as an innovative alternative that overcomes the limitations of these existing products."
In addition, Amicogen's technology is also highlighted in relation to the recent COVID-19 trend. In fact, Amicogen is the only company in Korea that can simultaneously produce media and resin, essential for the production of COVID-19 vaccines and diagnostic kits, so benefits are expected.
Media provides the nutrients and environment necessary for cell growth and proliferation. It is used to culture cells needed for COVID-19 vaccine production. The domestic biopharmaceutical industry heavily relies on imports for essential raw materials like media, resin, and filters. During the COVID-19 spread in 2020, countries like the United States and Germany blocked exports of media and resin for their own vaccine production, causing research orders to wait 12-18 months.
Stunning Value Research added, "The company was selected for a national project worth 23.1 billion won for 'localization of biopharmaceutical media' and entered the essential material component market for production. Recently, they completed large-scale production facilities in Songdo and Yeosu and began full-scale market penetration," adding, "In particular, the self-developed Protein A resin boasts superior durability and porosity compared to competitor products, and its high antibody binding capacity and elution performance allow for multiple reuses."




kakim@fnnews.com Kyung-Ah Kim Reporter