InscoBio "Expanding Apimez Stake... Confidence in Clinical Trials"

[Asia Economy Reporter Hyunseok Yoo] InscoBee announced on the 12th that it will increase its stake in its subsidiary Apimez by newly acquiring 2 million shares. The company explained that this move is to strengthen responsible management.

InscoBee will acquire all of the third-party allotment paid-in capital shares of Apimez, increasing its ownership stake from 15.2% to 20.9%, a rise of 5.7 percentage points.

With this additional acquisition of subsidiary shares, InscoBee expects a "one stone, three birds" effect. Along with improving Apimez's financial structure, it plans to strengthen the responsible management system by increasing the largest shareholder's stake, enabling Apimez to complete funding early for the FDA Phase 3 clinical trial of Apitox, a multiple sclerosis treatment being pursued through its U.S. subsidiary.

Finally, the company aims to concretize a strategic stance to become an NRDO (No Research, Development Only) specialized biotech by securing additional natural product new drug development pipelines, including expanding indications beyond multiple sclerosis to other autoimmune diseases.

Over the past year, Apimez established its U.S. subsidiary and recruited Scott Hollander, who has extensive experience in clinical trials, funding, and IPOs at global biotech companies such as U.S.-based Echo Therapeutics and Japan's Otsuka Pharmaceutical, as the local CEO. Based on this, Apimez has been raising funds necessary for the Phase 3 clinical trial of multiple sclerosis from venture capitalists, investment banks, and major pharmaceutical companies.

Currently, negotiations with a major investment bank are accelerating, with specific investment structures and conditions being coordinated. The recent increase in the major shareholder's stake is also interpreted as a proactive measure partly accommodating potential investors' demands.

Apimez has signed contracts with specialized companies in each field necessary for full-scale clinical execution, including contract manufacturing organizations (CMO) for drug production, and contract research organizations (CRO) overseeing all processes from clinical planning to logistics, storage, and labeling, which are prerequisites for clinical trials. Having completed contracts with CMO and CRO companies, which are preconditions for attracting investment for clinical trials, it is expected that clinical trials can commence immediately upon successful fundraising.

Additionally, to establish a stable sales network after new drug approval, Apimez has finalized contracts with U.S. medical insurance consulting firms, completing preparations for the next stage of new drug sales after Phase 3 clinical trials. Given the complexity of the U.S. medical insurance system, it is anticipated that consulting firms will help minimize risks in the new drug sales field.

A company official stated, “Although it is not yet possible to disclose specifics due to NDA clauses, investment attraction in the U.S. is progressing smoothly. Although related institutions experienced some delays in work processes due to remote work caused by COVID-19 last year, we expect to complete investment attraction soon and fully launch Phase 3 clinical trials.”

He added, “InscoBee will do its best as the largest shareholder to ensure the successful Phase 3 clinical trial and funding of Apimez. Once Apimez enters Phase 3 clinical trials in the U.S., it is expected that the corporate value of both Apimez and InscoBee will be maximized.”

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