Rumimicro-Vivoborn Establishes Pharmaceutical Division... Phase 3 Clinical Trials of 'Ofiranzerin' Underway in Korea and China

[Asia Economy Reporter Jang Hyowon] Lee Doohyun, CEO of Vivoborn, announced on the 12th that Vivoborn and Lumimicro will jointly establish a pharmaceutical business division. Along with this, they also announced the new recruitment of Park Hongjin, Vice President, formerly of Otsuka Pharmaceutical Korea.

Vice President Park Hongjin has extensive practical experience as a pharmaceutical plant manager, including new pharmaceutical factory construction, approval of the Food and Drug Administration (FDA) drug manufacturing and Good Manufacturing Practice (GMP) standards, and completion of formulation and synthesis plant design. He is also recognized as a veteran in the pharmaceutical industry, having mastered all areas of pharmaceuticals with broad pharmaceutical planning experience, including clinical development capabilities, drug price negotiations, and license-out achievements.

Lumimicro announced that it has secured the clinical trial rights for Korea and China for the Phase 3 clinical trial of the injectable drug ‘Ophiranzerin,’ which is currently undergoing FDA clinical trials at Vivoborn, and decided to proceed with the Korea-China Phase 3 clinical trials through Lumimicro.

They also added that they are promoting a structure to directly produce and supply clinical trial drugs needed for clinical trials at a factory under the newly established Lumimicro pharmaceutical business division. CEO Lee Doohyun stated, “In the future, the pharmaceutical business division of Lumimicro will also add health functional foods and cosmetics business areas,” and added, “The recent acquisition and investment news of a small cosmetics company is a preemptive measure to prepare for the continuous growth of the pharmaceutical business division.”

On the 27th of last month, Vivoborn announced that it would expand its business into healthcare and beauty by acquiring the mid-sized cosmetics company ‘SphereTech.’ At that time, Vivoborn stated that it would first acquire the company and then transfer it to Lumimicro.

In the announcement, CEO Lee Doohyun said, “Along with investments in various bio ventures, we will actively promote a future-oriented bio business applying the NRDO model from licensing promising new drug pipelines to license-out after clinical development.”

Meanwhile, CEO Lee announced that the review regarding Vivoborn’s backdoor listing through Lumimicro is ongoing.

CEO Lee Doohyun is currently continuing to acquire shares of Lumimicro. After securing management rights of Lumimicro through paid-in capital increases of 20 billion KRW from Voltia and 15 billion KRW from Vivoborn in December last year, CEO Lee invested a large amount of funds, and just two months later, on January 31, he additionally acquired convertible bonds worth 20 billion KRW from Vivoborn, injecting a total of 55 billion KRW into Lumimicro.

Additionally, by April 13, he acquired 971,464 shares, and by April 16, an additional 328,536 shares through on-market purchases, totaling 1.3 million shares acquired on the market. On April 28, he also signed a call option contract for Lumimicro convertible bonds worth 20 billion KRW through Voltia.

According to market insiders, “The fact that specific mentions of the listed stock Lumimicro and the detailed listing method of Vivoborn are repeated twice and included in the announcement suggests that CEO Lee Doohyun has made a firm decision on this matter,” and “They must have continuously considered ways for the shareholders of both companies to naturally absorb each other as the two companies merge into one.”

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