Genexine announced on the 18th that it has signed a technology transfer contract worth ₩1.2 trillion with KG BIO, a subsidiary of Indonesian pharmaceutical company Kalbe Farma, for GX-17, an immune anticancer drug candidate.

KG BIO is a joint venture established in 2016 by Kalbe Farma, the largest pharmaceutical company in Southeast Asia, and Genexine. Under this contract, KG BIO took over the copyright of GX-17 to ASEAN countries, the Middle East, Australia, New Zealand, India and Africa.

The down payment is $27 million (approximately ₩30 billion), and additional milestones that can be received according to phased schedules such as clinical progress, approval, and commercial