Huons to Absorb Huons Lab in Merger to Strengthen Biopharmaceutical Research

Extraordinary Shareholders' Meeting in July

Merger Completion Scheduled for Mid-August

Huons will merge its unlisted subsidiary, Huons Lab, to strengthen its research and development capabilities in biopharmaceuticals.

On May 18, Huons announced in a regulatory filing that its board of directors approved the contract to absorb and merge Huons Lab, a subsidiary of the holding company Huons Global. The company plans to complete the merger in mid-August following an extraordinary shareholders' meeting scheduled for July.

The merger ratio is set at 1 to 0.4256893, with Huons to Huons Lab. The newly issued shares are scheduled to be listed on September 4. After the merger is completed, Huons will issue 3,825,327 new common shares to Huons Lab shareholders.

Huons Lab specializes in the development of biopharmaceuticals and peptide drugs. Peptides are small fragments that make up proteins, consisting of 2 to 50 amino acids, and play a vital role in metabolism and life processes within the body.

According to Huons, the merger will allow the company to expand its development pipeline from existing synthetic drug candidates to biopharmaceuticals.

Last month, Huons also decided on a small-scale merger to absorb Huons Life Science, its wholly owned subsidiary, in an effort to enhance management efficiency.

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