[Kim Saemi, Edaily Reporter] On August 21, shares in the bio and healthcare sector saw mixed movements. Noul Co., Ltd. surged after it was revealed that the company had participated in a meeting with the Gates Foundation as Korea’s leading medical AI firm. In contrast, G2GBIO, Inc. and PeopleBio Co., Ltd. continued their downward trend, each posting double-digit declines.

Noul Gains Global Recognition as Korea’s Medical AI Leader

According to KG Zeroin’s MP Doctor, Noul closed at 2170 KRW, up 330 KRW or 17.93% from the previous session. The rally came after reports confirmed that Noul was the only Korean medical AI company invited to a global health roundtable co-hosted by the Gates Foundation and the Right Foundation on August 20.

On August 21, shares of Noul Co., Ltd. surged 17.93% from the previous trading day. (Source: KG Zeroin MP Doctor)

Driven by the news, Noul shares surged over 20% in early trading. Trading volume skyrocketed to 22.02 million shares, 73.7 times higher than the previous day’s 294,872 shares.

A company official stated, “This meeting with the Gates Foundation, coinciding with Bill Gates’ visit to Korea, is highly meaningful as it reaffirms Noul’s position as a leading Korean medical AI firm. We have also maintained close collaboration with the Right Foundation.”

The Right Foundation is a public-private nonprofit initiative jointly established by Korea’s Ministry of Health and Welfare, the Gates Foundation, and domestic life science firms. It supports R&D to address the burden of infectious diseases in low- and middle-income countries (LMICs) through Official Development Assistance (ODA).

Noul’s flagship product, MyLab, is an on-device AI diagnostic platform that automates the entire testing process from sample preprocessing to imaging and analysis without the need for internet or large-scale servers. Its ability to deliver efficient, low-cost diagnostics at the point of care is seen as key to improving healthcare access in underserved regions. These strengths are believed to have drawn the attention of the Gates Foundation, which is prioritizing the equitable global deployment of AI technology.

Noul plans to expand its partnership with the foundation to co-develop AI diagnostic solutions aimed at eradicating infectious diseases and improving healthcare access for vulnerable populations.

G2GBIO Retreats as Market Focus Shifts to Peptrone

On August 21, G2GBIO, Inc. and PeopleBio Co., Ltd. saw steep declines of over 10% on the KOSDAQ market. G2GBIO appeared to be undergoing a correction after a sharp rally following its initial public offering (IPO), while PeopleBio extended its four-day losing streak amid growing concerns over its capital impairment.

G2GBIO, which was listed on August 14 at an offering price of 58,000 KRW, had posted gains for three consecutive trading days. The stock opened at 86,500 KRW on its debut and closed the day at 93,800 KRW. It reached an intraday high of 142,500 KRW on August 19 but closed at 118,500 KRW on August 20, down 6.18% from the previous session. On the 21st, it dropped further to 105,000 KRW, falling 11.39%.

Analysts attribute the decline to rising investor interest in Peptrone, amid increasing expectations of a definitive partnership with Eli Lilly. Peptrone signed a technology evaluation deal with Lilly in October last year for its SmartDepot platform.

Investor sentiment was further lifted after Lilly issued $6.75 billion in bonds on August 18, fueling speculation that the company may pursue acquisitions or pipeline expansion in the obesity treatment market.

Viking Therapeutics, previously seen as a strong M&A candidate, recently reported lackluster results from its phase 2 trial of the oral obesity drug VK2735, citing high dropout and side effect rates. This weakened its prospects as an M&A target and redirected attention toward long-acting injectable therapies such as those being developed by Peptrone.

With expectations building around Peptrone’s relationship with Lilly, investor interest in G2GBIO viewed as a competitor appears to have faded. “As excitement builds around Peptrone, G2GBIO seems to be slipping out of the spotlight,” one industry observer said.

PeopleBio Pressured by Capital Erosion Risks

PeopleBio Co., Ltd. closed at 1660 KRW on August 21, down 193 KRW or 10.42% from the previous session. The company is known for commercializing AlzOn, Korea’s first blood-based diagnostic kit for Alzheimer’s disease.

PeopleBio Co., Ltd. began to plunge on August 18 and extended its decline for a fourth consecutive trading day. (Source: KG Zeroin MP Doctor)

PeopleBio’s share price has been on a downward trajectory since August 18, marking its fourth consecutive day of decline. The drop follows a disclosure on August 14 revealing a capital erosion ratio of 62.5% for the second quarter. As a result, the stock was designated as an “investment warning” issue on August 18.

Although the company received an “qualified” audit opinion in its semiannual report, concerns remain that it may be designated as a managed stock if it fails to secure additional capital in the second half of the year―posing a risk to its continued listing.

Capital expansion is now the company’s top priority. PeopleBio is reportedly engaged in in-depth discussions with key strategic investors and has expressed confidence in securing new funding. Industry observers note that the outcome of these efforts will likely determine the company’s future.