Sillajen, M2N and TFT... "Pursuing Management Normalization and Main Contract Signing"

[Asia Economy Reporter Hyunseok Yoo] ShillaJen and M2N announced on the 29th that they have launched a task force team (TFT) for management normalization.

ShillaJen had selected M2N as the preferred negotiator on the 14th. They plan to finalize the main contract within May.

The task force team was formed to proactively address various issues related to management normalization. Specifically, the two companies will discuss management and research and development directions, synergies with the US biotech company GreenfireBio (hereinafter GFB), and strategies for corporate value recovery through the resumption of trading.

ShillaJen and M2N have assigned key executives and employees from research and development, finance, legal, and business development fields to the task force team, with the CEOs of both companies, Shin Hyunpil and Kim Sangwon, serving as task force team leaders. Park Sanggeun, CEO of M2N Bio who led the Korean branch of the global pharmaceutical company Actelion, and GFB, a US biotech company in which M2N is the largest shareholder, are also participating in the task force team to actively strengthen ShillaJen’s global research and development capabilities.

A company official stated, “We will establish a workspace that enables real-time communication to continue active opinion sharing and coordination,” adding, “The launch of the task force team marks the starting point not only for ShillaJen’s management normalization but also for its leap to a global company and value recovery.”

Meanwhile, Dr. Howard Kaufman, one of the world’s leading oncolytic virus researchers from Harvard Medical School, recently joined GFB, which is involved in ShillaJen’s research and development capabilities. Dr. Howard Kaufman is the principal investigator of Imlygic, an oncolytic virus developed by the global pharmaceutical company Amgen, which was the world’s first to achieve commercialization. Dr. Kaufman has been actively involved since the due diligence stage of ShillaJen.

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