Global Asset Management Firm Invests 200 Billion KRW in HLB Group

HLB Group announced on November 3 that LMR Partners, a UK-based global asset management firm, will make a strategic investment of 145 million US dollars (approximately 206.9 billion KRW) in the company.

The company stated, "Ahead of HLB's resubmission for its liver cancer drug and new drug application for its bile duct cancer treatment, capital from an overseas asset management firm has flowed in," adding, "This marks the beginning of full-scale collaboration with global capital."

LMR Partners will invest in HLB Group in US dollars, acquiring 140 million dollars worth of bonds with warrants (BW) from HLB and 5 million dollars worth of exchangeable bonds (EB) from HLB Life Science.

Of the total 140 million dollars secured by HLB, 15% will be immediately available as soon as the transaction is completed. The remaining 85% will be deposited in HLB's overseas escrow account and will be executed once the conditions for exercising the BW are met. The company explained that these funds can only be used for the clinical development and global commercialization of its US subsidiary Elevar.

Lim Changyun, Vice Chairman of Investments at HLB Group, said, "This transaction marks the first inflow of foreign capital since the founding of HLB Group," adding, "Based on these funds, we will accelerate global approvals and market entry for our core pipeline, leading to an increase in corporate value."

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