SillaJen-M2N Resolve to Secure Additional Operating Funds: "Injecting Additional 40 Billion KRW"

[Asia Economy Reporter Yoo Hyun-seok] On the 14th, SillaJen announced that its board of directors resolved to inject an additional 40 billion KRW in operating funds from M2N. This securing of operating funds is part of SillaJen's management normalization efforts. It was decided to strengthen financial soundness, which is considered a vulnerability of biotech companies.

Based on this, SillaJen will benefit from a capital infusion of approximately 100 billion KRW, including 60 billion KRW from the new shares subscription payment to be received from M2N on the 15th.

SillaJen and M2N plan to use the additional operating funds for securing new pipelines and strengthening clinical trials. A SillaJen official stated, "With the additional operating funds secured, we plan to sequentially introduce excellent pipelines and candidate substances," adding, "We will do our best in research and development based on various pipelines."

Meanwhile, SillaJen is currently conducting a Phase 2 clinical trial for kidney cancer in combination with Regeneron's Libtayo in the United States. Additionally, it has started melanoma clinical trials jointly with its Chinese partner, Lespharm, and patient enrollment is expected to begin within the third quarter.

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