Vivozon Pharmaceutical to Raise 50 Billion KRW Through Paid-In Capital Increase to Strengthen Business Capabilities and Secure Financial Capacity

Vivozon Pharmaceutical announced on October 14 that it has decided to carry out a paid-in capital increase in order to strengthen sustainable business capabilities and secure financial capacity.

On the previous day (October 13), Vivozon Pharmaceutical disclosed that it had decided on a paid-in capital increase through a rights offering to existing shareholders followed by a public offering of forfeited shares. Through this capital increase, the company will issue 10,615,000 new shares, with an expected issue price of 4,710 KRW per share, amounting to approximately 50 billion KRW. Any unsubscribed shares will be underwritten by the lead manager, NH Investment & Securities.

The funds raised through this paid-in capital increase will be used to strengthen the competitiveness of its pharmaceutical business and improve its financial structure. In particular, the company plans to use the funds to expand its sales and marketing capabilities for the successful market entry of Anapraju (ingredient name: Oliceridine Hydrochloride), the 38th domestically developed innovative non-narcotic analgesic in Korea.

A company representative stated, "Our financial capacity has weakened due to large-scale R&D expenditures and preparations for the product approval of Anapraju. With this capital raise, we plan to simultaneously pursue the commercialization of the new drug and improve our financial soundness."

The representative added, "We will do our utmost to swiftly achieve business results with Anapraju and enhance corporate value based on business structure optimization."

Meanwhile, in September, Vivozon Pharmaceutical selected Korea Daiichi Sankyo, the Korean subsidiary of global healthcare company Daiichi Sankyo, as its co-promotion partner for Anapraju. The two companies plan to actively cooperate in the domestic distribution, sales, and marketing of Anapraju.

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