[This Week's Paid-in Capital Increase] Paid-in Capital Increase in the Fourth Week of November

[Asia Economy Reporter Hyunseok Yoo] This month (November), Jinwon Life Sciences will proceed with a rights offering.

◆Jinwon Life Sciences=Jinwon Life Sciences will conduct a rights offering through a shareholder allocation followed by a general public offering of unsubscribed shares. Subscription and oversubscription for existing shareholders will take place from the 24th to the 25th. Subsequently, the general public offering will be held from the 29th to the 30th.

The fixed issue price is scheduled to be announced on the 22nd. The initially determined issue price is 23,500 KRW, aiming to raise a total of 135.4 billion KRW.

Of the funds raised, 90.8 billion KRW will be invested in facility funds, specifically for new expansion of CMO facilities. Additionally, 41.4 billion KRW will be used as operating funds, detailed for development of COVID-19 DNA vaccines and COVID-19 therapeutics.

Jinwon Life Sciences originated from Dongil Fabric, founded in 1976. In 2005, it was acquired by the US biotech company VGX Pharma and renamed VGX International. In 2014, it changed its name to the current one. The company is engaged in gene therapy development, primarily operating in plasmid DNA contract manufacturing and nucleic acid (DNA, mRNA)-based vaccine development.

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