ToolGen Announces 70 Billion Won Capital Increase to Secure Funds for Patent Litigation and R&D

Paid-in Capital Increase Through Shareholder Allocation and Public Offering of Forfeited Shares
8.6% Capital Increase Ratio

Responding to Broad Institute Interference Proceedings and Vertex Patent Litigation
Investment in Next-Generation Pipelines

ToolGen announced on May 15 that it has decided to conduct a paid-in capital increase through a shareholder allocation followed by a public offering of forfeited shares, amounting to approximately 70 billion won.

ToolGen corporate logo image. ToolGen

The company plans to allocate the funds secured through this capital increase to respond to global patent disputes related to CRISPR-Cas9 and to invest in research and development (R&D).

ToolGen explained that the funds will be used for responding to interference proceedings with the Broad Institute, covering legal expenses for patent infringement lawsuits in the United States and Europe against companies such as Vertex and Lonza, developing next-generation pipelines at its therapeutic research center and seed business division, and supporting global business operations.

ToolGen stated that the capital increase represents about 8.6% of its total outstanding shares. Its largest shareholder, Genexine, is also expected to participate in a portion of the allocated shares. Regarding the recent change in the patent litigation schedule with Vertex, ToolGen explained that three newly registered CRISPR RNP patents have been added to the list of alleged infringements.

Yoo Jong-sang, CEO of ToolGen, commented, "This paid-in capital increase is a decision aimed at strengthening the company's technological value and competitiveness in the global market."

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