Polaris Office Group Participates in Capital Increase of Affiliate Polaris AI Pharma... Expected to Enhance Corporate Value

Polaris Office Group announced on the 26th that it will invest a total of 5 billion KRW in the third-party allotment paid-in capital increase of Polaris AI Pharma.

This paid-in capital increase was carried out with the goal of securing funds for business expansion and enhancing corporate value. Polaris Office, Polaris Sewon, Polaris AI, and Polaris Uno will each participate with 1.25 billion KRW, and the scheduled payment date is the 2nd of next month.

After the payment, Polaris Office Group's stake in Polaris AI Pharma will increase from the existing 25.04% (3,179,693 shares) to 29.50% (3,983,037 shares). The shareholding ratios of Polaris Office, Polaris Sewon, Polaris AI, and Polaris Uno will expand to 7.52%, 7.28%, 7.42%, and 7.28%, respectively.

A representative of Polaris Office Group said, "By proactively securing funds through the paid-in capital increase, we will overcome the limitations of the business division that has been centered on API (Active Pharmaceutical Ingredients) and expand into the CDMO (Contract Development and Manufacturing Organization) sector. We will also develop AI (Artificial Intelligence) businesses necessary for the pharmaceutical industry and achieve business growth."

He added, "We will do our best at the group level to enhance the corporate value of our affiliates."

Polaris AI Pharma is strengthening its capabilities from the existing active pharmaceutical ingredients business area to contract development and manufacturing. It is exploring various ways to create synergy by integrating with Polaris Office Group affiliates. The strategy is to respond swiftly to changes in the pharmaceutical and bio industries by incorporating artificial intelligence.

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