CreosG, Subsidiary Absorption Merger Approved by Board... "Leading New Drug Development, Strengthening Cooperation with Domestic and International Pharmaceutical Companies"

CreoSG announced on the 29th that the merger approval board has approved the agenda to absorb and merge its subsidiary ImmunoVaxBio. This merger is a small-scale merger and was decided by board approval without a general shareholders' meeting. The merger date is set for August 30.

CreoSG plans to internalize the new drug pipeline held by ImmunoVaxBio to accelerate research and development. ImmunoVaxBio recently launched a universal vaccine platform called ‘SUV-MAP’ based on the technology secured through the development of various vaccines.

SUV-MAP features its own recombinant vesicular stomatitis virus (rVSV) technology, which offers excellent safety and effective immune response induction. Using SUV-MAP to develop vaccines allows completion of virus information acquisition and testing of vaccine candidates within 5 months, and GMP production can be carried out within 6 months, enabling rapid pandemic response.

Starting with this merger, CreoSG plans not only to accelerate the development of its pipeline but also to strengthen external collaborations. The company explained that it is reviewing various strategies to expand the application areas of SUV-MAP to include immuno-oncology drugs and is currently in discussions with domestic and international pharmaceutical companies regarding joint research and development of vaccines and immuno-oncology drugs.

A CreoSG official stated, “The number of shares expressing opposition to the merger with ImmunoVaxBio did not exceed 20% of the issued shares, so the subsidiary merger has been confirmed,” and emphasized, “Through the merger, we will enhance management efficiency and accelerate the commercialization of our pipeline to strengthen our competitiveness in vaccine development in the global market.”

CreoSG recently succeeded in developing a bivalent mixed vaccine that can simultaneously prevent Severe Fever with Thrombocytopenia Syndrome (SFTS) and Hemorrhagic Fever with Renal Syndrome (HFRS) under the national project ‘Next-Generation Premium Vaccine Development’ led by the Gyeongbuk Bio Industry Research Institute. CreoSG plans to continue research and development centered on SUV-MAP to continuously diversify its vaccine portfolio.

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