Ajax "HLB Subsidiary Immunomic Receives $10 Million Investment... Securing New Growth Engine"

[Asia Economy Reporter Hyunseok Yoo] EJAX announced on the 20th that it will invest 10 million dollars (approximately 12.3 billion KRW) in HL Biotech's subsidiary Immunomic Therapeutics, Inc. (hereinafter Immunomic) through a third-party allotment paid-in capital increase. The acquisition date is scheduled for the 23rd, and the post-acquisition shareholding ratio will be 7.61% (2 million shares).

EJAX's strategy is to increase corporate value by investing in promising bio companies with growth potential based on stable performance. The company is a specialized manufacturer of display process components, mainly producing ultraviolet resin (UV resin), metal paste, and optical adhesive materials (OCA/OCR). It has also developed core products for the IoT (Internet of Things) business, such as electronic tags (RFID) and near-field communication (NFC) antennas.

Founded in 2006 in Maryland, USA, the bio company Immunomic developed the immune therapy technology "UNITE" using technologies from Johns Hopkins University and Duke University. Immunomic's founder and CEO William Hearl, a biochemistry Ph.D. from the University of Tennessee, is a biotechnology expert who has contributed to the development of treatments for HIV (human immunodeficiency virus), hepatitis C, and other diseases at global pharmaceutical companies and research institutes for over 20 years.

In 2015, Immunomic signed an upfront (non-refundable revenue condition) technology licensing agreement worth 315 million dollars with Japan's Astellas for UNITE-based allergy treatment technology, and in 2018, it was selected as the best vaccine company at the World Vaccine Congress.

Immunomic has formed a consortium with U.S. companies EpiVax and Pharmajet to develop a novel coronavirus disease (COVID-19) vaccine based on UNITE technology. EpiVax is a vaccine design specialist targeting viruses, and Pharmajet possesses needle-free drug delivery technology. The company has applied for funding support from the U.S. government for vaccine development.

Jiphoon Jung, CEO of EJAX, stated, "It is meaningful to become a business partner with HL Biotech, which is growing into a global big pharma company with 100% domestic capital," and added, "Through cooperation with HL Biotech and Immunomic, we will strengthen the bio business as a new growth engine and enhance corporate value." He also emphasized, "We will devise various support measures to accelerate the development of the COVID-19 vaccine."

Meanwhile, HL Biotech invested 30 million dollars (35.6 billion KRW) in Immunomic in February, acquiring a 38.16% stake. Including friendly shares, HL Biotech plans to expand its stake in Immunomic to 51% and aims to list Immunomic on the NASDAQ or KOSDAQ market.

This content was produced with the assistance of AI translation services.