CBI Raises 14.7 Billion Won... Additional Investment in Kineta

[Asia Economy Reporter Hyungsoo Park] CBI raised 14.7 billion KRW through a paid-in capital increase last month. The funds raised will be invested in the U.S. immuno-oncology drug development company Kineta.

'GVBT4 Private Equity Fund,' operated by Growns & Value, the largest shareholder of CBI, and the U.S. investment fund RLB Holdings participated in the paid-in capital increase. RLB Holdings is an investment firm whose largest shareholder is Ray Batogic, the second-largest owner of the Yankees. Its asset size is known to be approximately 30 million USD.

Ray Batogic, the second-largest shareholder of Kineta, is expected to act as a bridge between CBI and Kineta by participating in CBI's paid-in capital increase.

Previously, CBI secured shares of Kineta through CBI USA. It is both a financial investor (FI) supporting funds to Kineta and a strategic partner (SI) for the domestic initial public offering (IPO).

Last month, Kineta received a 2.4 million USD investment from Genetox, a domestic botulinum manufacturer. They are discussing global clinical collaboration and overseas licensing. Kineta's CEO, Sean Idinato, is considering entering overseas markets based on the potential new indications of botulinum substances and his existing clinical experience with anticancer drugs and other new drugs.

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