BrainContents Strengthens Control by Increasing Stake in Medipron... "General Director Mun Yang-geun Participates"

[Asia Economy Reporter Yoo Hyun-seok] Brain Contents, a content platform specialist company, has strengthened its controlling shareholder power by participating in a paid-in capital increase of new drug development bio company Mediphron Divity (hereinafter Mediphron) and securing additional shares.

Brain Contents and two others announced on the 12th that they paid 2.5 billion KRW for Mediphron's third-party allotment paid-in capital increase. With this capital increase, Brain Contents' shareholding ratio, including related parties, will expand from 19.69% to 21.82%.

This capital increase attracted attention as Moon Yang-geun, the group’s largest shareholder and CEO of Brain Contents, directly participated. CEO Moon has not previously invested in shares of listed companies other than Brain Contents.

A company official said, "Expectations for Mediphron's dementia-related R&D technology and the addition of a bio new drug pipeline following synthetic new drugs have risen, but the current market evaluation is considered relatively low," adding, "The group owner's personal equity investment is evidence of this."

After acquiring management rights of Mediphron earlier this year, Brain Contents became the largest shareholder by participating in a 11 billion KRW third-party allotment paid-in capital increase of Mediphron in April together with its subsidiaries Global Tax Free and Swanicoco.

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