Canaria Bio and Duol Mulsan Holdings Merger Securities Registration Statement Effective

[Asia Economy Reporter Hyungsoo Park] Canaria Bio is completing the merger process with Duol Mulsan Holdings.

Canaria Bio announced on the 11th that the 'Merger Securities Report' submitted to the Financial Supervisory Service on December 7 last year has taken effect. Accordingly, after proceeding with the merger procedures such as ▲distribution of investment brochures ▲merger registration, the existing shareholders of Duol Mulsan Holdings (the merged company) will receive Canaria Bio shares in proportion to the number of Duol Mulsan Holdings shares they currently hold. The merger date is set for the 18th, and the scheduled registration date is the 21st.

Canaria Bio is a registered corporation on the Korea Financial Investment Association's (K-OTC) unlisted stock market. Once the distribution process is completed, the shares can be traded.

Currently, along with affiliates Ocupi Bio and MHC&C, Canaria Bio plans to raise funds to actively conduct various clinical trials for ovarian cancer and pancreatic cancer immuno-oncology treatments. The global Phase 3 clinical trial of the core pipeline ovarian cancer treatment 'Oregobomab' is underway at 123 sites across 13 countries. In Korea, the number of sites has recently increased to eight with the addition of Seoul National University Hospital and Yonsei University Severance Hospital.

Additionally, various research clinical trials are being conducted in collaboration with global pharmaceutical companies. Under the lead research of Asan Medical Center, investigator-initiated Phase 1 and 2 clinical trials are being conducted at five domestic hospitals targeting patients with recurrent ovarian cancer.

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