Dongwon Industries Enters Bio Industry... Moves to Acquire Boryung Biopharma
Dongwon Industries is making a full-scale entry into the pharmaceutical and biotechnology industry by acquiring Boryung Biopharma.
On the 23rd, Dongwon Industries announced through a public disclosure that it had signed a memorandum of understanding with Boryung Partners regarding the acquisition of Boryung Biopharma. Dongwon Industries plans to conduct due diligence on Boryung Biopharma independently. Based on the results, it has secured exclusive priority negotiation rights.
Boryung Biopharma, established in 1991, is a biotechnology company engaged in the development of technologies such as vaccines and genomic diagnostics.
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Last month, Dongwon Industries also participated solely in the preliminary bidding for the sale of McDonald's Korea. It is reported that Dongwon Industries is conducting due diligence and is preparing for full-scale price negotiations.
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