InscoBio Issues 20 Billion KRW Convertible Bonds... "Leap to Bio Meditech Platform through M&A"

[Asia Economy Reporter Yoo Hyun-seok] InscoBi announced on the 6th that it has issued convertible bonds (CB) worth 20 billion KRW. The funds secured this time will be used for ▲ equity investment in bio and pharmaceutical companies ▲ research and development funds for bio subsidiaries, among other purposes.

With the funds raised this time, InscoBi plans to invest in companies that can create synergy together with its bio subsidiaries Apimez and Cellumed. The company explained that it is focusing on thoroughly reviewing pharmaceutical production and distribution sectors that can establish new revenue models through collaboration in Apimez’s pharmaceutical and formulation business areas and Cellumed’s artificial joint and growth factor fields.

A company official said, “Various acquisition and merger (M&A) and equity investment proposals in the bio sector are coming in,” adding, “We will select the optimal acquisition target company that can create synergy with InscoBi through in-depth review in various ways.”

InscoBi will also intensify support for research and development (R&D) funds for its core bio subsidiary Apimez. Currently, Apimez is raising investment for the Phase 3 clinical trial for multiple sclerosis with the US FDA through its local US corporation, while focusing on formulation business and rheumatoid arthritis drug development domestically.

Apimez established a foundation for its formulation business by setting up a research institute last year. In May, the rheumatoid arthritis drug entered animal testing. Currently, discussions are underway with a well-known domestic pharmaceutical company regarding formulation business cooperation, and with the addition of InscoBi’s financial strength, it is expected that rapid results can be achieved in the formulation business within a short period.

A company official explained, “Through this institutional investor fund raising, we will make aggressive investments in the pharmaceutical and bio sectors,” adding, “In particular, by promoting strategic M&A, the bio business is expected to become a core revenue model for InscoBi, and based on this, we plan to leap forward as a bio meditech platform.”

Meanwhile, the convertible bonds were issued to institutional investor BNS Investment Advisory in the 30th and 31st series, amounting to 15 billion KRW and 5 billion KRW respectively, with the payment date set for August 5.

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