<기사제목>CreosG, Major Shareholder Subscribes 100% to Rights Offering... "Confidence in New Business"</기사제목>

by Jang Hyowon

Published 07 Nov.2024 15:16(KST)

Updated 07 Nov.2024 15:18(KST)

CreoSG announced on the 7th that its largest shareholder, Quro Holdings, and key related parties have completed a 100% subscription of the shares allocated in the rights offering. The full subscription of this rights offering signifies strong confidence in the company's growth, focusing on new businesses such as collaboration with Alteogen for immuno-oncology drug development and the potential commercialization of an AIDS vaccine approaching Phase 2 clinical trials.

In this rights offering, the total number of new shares allocated to CreoSG's largest shareholder and related corporate parties amounted to 13,949,238 shares. Quro Holdings, the largest shareholder, along with related corporate parties, decided to participate 100% in the allocated shares through a board resolution on the 5th, completing a total of 7.5 billion KRW worth of subscription from existing shareholders on the first day.

A CreoSG representative stated, “The 100% subscription by the largest shareholder reflects confidence that the company’s performance will accelerate through the development of new drug pipelines such as the AIDS vaccine and immuno-oncology drugs.” He added, “As the largest shareholder, they actively participated in the rights offering not only to practice responsible management but also because they judged that the company’s growth will accelerate.”

CreoSG is actively advancing immuno-oncology drug development through external collaborations, including recently signing a memorandum of understanding (MOU) with the global bio platform company Alteogen. They plan to jointly develop new formulations optimized for immuno-oncology drugs and explore collaborative business opportunities based on this. CreoSG has already secured outstanding technology by developing multiple vaccines for major pandemic diseases. The company explained that it intends to successfully expand its pipeline into the immuno-oncology field based on this foundation.

CreoSG’s world-first AIDS vaccine, ‘SAV001-H,’ is approaching Phase 2 clinical trials with the U.S. FDA (Food and Drug Administration). Recently, they completed optimization of clinical sample production and started mass production. They are also progressing smoothly with Phase 2 preparations through consulting agreements with local experts. Additionally, efficacy evaluations of combination vaccines based on their proprietary universal vaccine development platform ‘SUV-MAP’ are underway.

A CreoSG representative added, “With the funds secured through this rights offering, we plan to accelerate the FDA Phase 2 clinical trials of our core pipeline AIDS vaccine and proceed with immuno-oncology drug development.” He further stated, “While focusing on new drug development, we will also actively pursue global technology transfers of our existing pipelines.”