In today’s briefing:
- Korea Value-Up Index: Estimated Passive Flows as ETF Launches Coming
- Legochem Biosciences (141080 KS): New ADC Deal Enhances Confidence on ConjuAll Technology Platform
Korea Value-Up Index: Estimated Passive Flows as ETF Launches Coming
- The KRX announced the 100 constituents of the much-awaited Korea Value-Up Index on 24 September. There were hits and misses but broad consensus was that the index is a miss.
- Following market feedback, the KRX could conduct a special rebalance of the index in December. But this could be after the launch of ETFs tracking the index.
- With a big overlap and similar characteristics as the KOSPI 200 Index, there could be limited assets benchmarked to the Korea Value-Up Index in the short-term.
Legochem Biosciences (141080 KS): New ADC Deal Enhances Confidence on ConjuAll Technology Platform
- Legochem Biosciences (141080 KS) entered into a license agreement with Ono Pharmaceutical for LCB97, a pre-clinical stage ADC targeting solid tumors for an upfront and milestone payment of $700M.
- Legochem is now pursuing high-value package deals, combining platform and product deals or multi-target product deals. The above-mentioned deal with Ono is the first such package deal.
- Legochem’s ADC technology platform is seeing rising demand as number of providers decreased (due to recent M&A deals) while big pharmaceutical companies are rapidly expanding their ADC businesses.
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