NK Max Completes 30 Billion KRW Investment from KDB Industrial Bank and Others... "Accelerating Clinical Trials"

[Asia Economy Reporter Hyunseok Yoo] NKMax announced on the 3rd that the investment funds amounting to 30 billion KRW have been fully paid.

NKMax disclosed that on the 26th of last month, it issued convertible bonds (CB) worth 23.2 billion KRW and convertible preferred stocks (CPS) worth approximately 6.8 billion KRW to KDB Industrial Bank and Mirae Asset, among others. Through this investment, the company has secured stable funding to introduce new technologies and accelerate the ongoing clinical trials of its SuperNK immuno-oncology drug.

The ‘SuperNK’ immuno-oncology drug differentiates itself from existing NK cell therapies by using a culturing technology that mass-produces high-purity, highly active NK cells. Based on this technological capability, NKMax has signed joint clinical development agreements with Merck and Pfizer and is currently conducting clinical trials. In October, it also signed a joint development agreement for a ‘targeted NK cell therapy’ combined with Innate Cell Engager (ICE), which was licensed by Genentech.

In the stock market, it is evaluated that the government-backed KDB Industrial Bank highly appreciates NKMax’s business development achievements and future technological growth potential, which led to its participation in this investment.

Park Sang-woo, CEO of NKMax, said, “This large-scale new investment attraction is a great achievement recognizing our company’s excellent technological capabilities and future growth potential,” adding, “With the secured funds, we can aggressively expand our immuno-oncology pipeline and develop business in the U.S. subsidiary, so we expect to share good news soon.”

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