Yuhan’s external investments totaled KRW 85 bil last year

Yuhan invested KRW 84.7 billion in external investments: three new and seven additional investments

Yuhan invested KRW 30 billion to acquire the biotech venture ProGen, and KRW 5.7 billion in Fermentec, a health-functional food company

Yuhan acquired KRW 28.2 billion worth of shares in ImmuneOnsia and invested an additional KRW 7 billion in AtoGen

Yuhan spent a total of KRW 85 billion in external investments.

 

By acquiring equity investments in companies across various sectors, such as biotech venture and health-functional food, Yuhan scouted for additional acquisitions to expand its business areas.

 

According to the Financial Supervisory Service on the 12th, Yuhan made ten external investments last year.

 

Yuhan invested a net amount of 84.7 billion in other incorporations, including three new investments and seven additional investments.

 

Yuhan has undertaken new investments, including ProGen, Fermentec, and Meritz Suseong Global Bio No.1.

 

Last May, Yuhan invested KRW 30 billion to acquire the biotech venture ProGen.

 

By acquiring existing shares and issuing new shares, Yuhan invested a total of KRW 30 billion, becoming the largest shareholder of ProGen with a 38.9% stake.

 

ProGen is a company holding a multi-specific antibody-based platform technology.

 

Established in 1998, ProGen is an R&D-focused company that utilizes genetic engineering.

 

In September 2022, Yuhan and ProGen signed a memorandum of understanding (MOU) for research collaboration in innovative new drug development.

 

Yuhan and ProGen plan to jointly develop next-generation innovative bio candidates such as multi-specific antibody therapeutics.

 

Last September, Yuhan invested KRW 5.7 billion in the health-functional food company Fermentec, acquiring a 10.0% stake.

 

Fermentec's primary business is in the manufacturing of microbial fermenters.

 

As of the end of 2022, Yuhan Medica holds a 42.11% stake, making it the largest shareholder.

 

Yuhan Medica is a subsidiary of Yuhan.

 

Yuhan invested in Fermentec to produce high-quality, low-cost probiotics.

 

Yuhan has increased its investment in companies it already owns.

 

At the end of last year, Yuhan acquired KRW 28.2 billion worth of shares in ImmuneOnsia.

 

Yuhan purchased the shares in ImmuneOnsia previously held by Sorrento Therapeutics.

 

In 2016, Yuhan established ImmuneOnsia through a joint venture with Sorrento Therapeutics, a Nasdaq-listed company.

 

ImmuneOnsia focuses on developing immune checkpoint inhibitors targeting PD-L1 with 'IMC-001' and CD47 with 'IMC-002'.

 

ImmuneOnsia collaborates with Yuhan Research Institute and Sorrento's antibody library to supply promising clinical candidates, maximize drug value, and engage in technology exportation.

 

Yuhan initially invested KRW 17.8 billion at the establishment of ImmuneOnsia and later invested KRW 6 billion as a strategic investor (SI) during ImmuneOnsia's pre-IPO fundraising round in 2022, raising a total of KRW 24.5 billion.

 

Last year, Yuhan invested an additional KRW 7 billion in AtoGen.

 

In September 2022, Yuhan acquired AtoGen by investing KRW 10.5 billion.

 

By purchasing 338,000 shares (52.15% ownership) held by AtoGen's largest shareholder, Tony Mori, and shares held by venture capital, Yuhan secured a 59.9% stake in AtoGen.

 

Based on its independent development platform, AtoGen is developing microbiome therapies for various diseases, such as metabolic disorders, immune disorders, and muscular diseases.

 

It also possesses R&D capabilities for developing health-functional food probiotic materials with specific functionalities.

 

By acquiring AtoGen, Yuhan plans to expand its business by developing microbiome-based therapies and functional probiotics.

 

Last December, Yuhan invested KRW 6 billion to acquire 43,550 common shares of SB BioPharm.

 

SB BioPharm specializes in developing and manufacturing veterinary medicines and food, while Neodin BioVet.

 

Laboratory and Zoonolab focus on conducting diagnostic tests and producing diagnostic kits for companion animals.

 

In 2021, Yuhan purchased KRW 7 billion worth of redeemable convertible preference shares from SB BioPharm and made additional investments last year.

 

Yuhan launched the pet care brand Wilopet in collaboration with SB BioPharm.

 

In partnership with SB Biopharm, Yuhan plans to release various new products in pet medicines, over-the-counter medication, premium pet nutrition, and veterinary diagnostics.

 

Last year, Yuhan invested KRW 2 billion J INTS BIO and KRW 1 billion in Aimedbio.

 

J INTS BIO is a bio company focused on the development of novel anticancer drugs.

 

It acquired new pipelines through a transfer agreement of two products, 'JIN-A01' and 'JIN-A02,' developed by Kwangho Lee of the Korea Research Institute of Chemical Technology and Byoung Chul Cho of the Lung Cancer Center at Yonsei Cancer Hospital.

 

Yuhan entered into a partnership with J INTS BIO by investing KRW 20 billion each in equity in 2021 and 2022.

 

Last May, Yuhan signed a licensing agreement with J INTS BIO for the targeted therapy ‘JIN-A04’.

 

The technology transfer agreement has a total contract size amounting to KRW 429.8 billion, with a non-refundable upfront payment of KRW 25 billion.

 

Yuhan invested KRW 8.5 billion in equity investments and upfront payments for technology transfer.

 

Yuhan Pharmaceuticals invested KRW 1 billion in acquiring Aimedbio's redeemable convertible preference shares in October last year.

 

Aimedbio is focused on developing new antibody drugs in the field of brain science.

 

In 2021, Yuhan invested KRW 3 billion in Aimedbio, acquiring a 3.0% stake in its common stock.

 

Furthermore, Yuhan made additional investments last year.

 

Yuhan increased its investment in MediRama, a clinical development strategy consulting company.

 

Over a year, Yuhan’s ownership in the stock rose from 8.1% at the end of 2022 to 15.0%.