BDI Pledges to Become a Global Bio Company at the General Meeting of Shareholders

[Asia Economy Reporter Yoo Hyun-seok] VIDI announced on the 26th that it held an extraordinary general meeting of shareholders and completed amendments to the articles of incorporation and the appointment of new management to promote new business.

At this extraordinary general meeting, VIDI formalized the promotion of its bio business by adding new businesses through amendments to the articles of incorporation, including ▲bio new drug research and development, manufacturing and sales ▲manufacturing and sales of pharmaceuticals, active pharmaceutical ingredients, and quasi-drugs.

Kim Il-gang, CEO who will lead the bio business, and Edwin Thomas, CEO of Eleison in the United States, were appointed as inside directors. In total, seven inside directors and two outside directors were appointed, including Lee Jin-hyuk, a former vice president of Hana Financial Investment.

In particular, the background for appointing Kim Il-gang as the head of VIDI reflects the company's strong will toward the bio business. Based on his experience in ship design and offshore design at Daewoo Shipbuilding & Marine Engineering, Kim Il-gang has accumulated diverse business experience in domestic shipbuilding equipment, shipping, ports, mining, energy, construction, and plant businesses. The company explained that he is the right person to grow the company’s bio business, as he has been preparing the bio business for many years through a broad global network.

A VIDI official said, “We have completed all preparations for entering the new bio business through this extraordinary general meeting of shareholders.” He added, “We will focus the company’s capabilities to ensure rapid growth of the bio business through acquiring competitive bio companies and aggressive investments.”

Meanwhile, last month, VIDI signed a memorandum of understanding (MOU) to acquire Eleison Pharmaceuticals, a U.S. new drug development company, and recently completed on-site due diligence, finishing all preparations for the acquisition. Eleison has obtained fast track designation from the U.S. Food and Drug Administration (FDA) for ‘Glufosamide,’ a second-line treatment for pancreatic cancer, and is conducting Phase 3 clinical trials. The company holds over 50 patents related to cancer treatments.

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