[Market Focus] Nature Cell Hits Lower Limit After Drug Approval Rejection by Ministry of Food and Drug Safety

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As of 9:30 a.m. on August 6, 2025, shares of Nature Cell on the KOSDAQ market were trading at 24,750 won, down 29.89%?the lower limit?compared to the previous day's closing price. This appears to be due to the news, disclosed after the market closed the previous day, that the Ministry of Food and Drug Safety had rejected the product approval application.

Nature Cell is engaged in the research and development of treatments for rare and intractable diseases using autologous adipose-derived stem cells, and is working toward commercialization through overseas clinical trials. The company also manufactures and sells stem cell culture fluid-based cosmetics and health-friendly vegan beverages. Biostar Stem Cell Research Institute, where Chairman Ra Jungchan is the largest shareholder, held a 9.56% stake as of the end of March, making it the largest shareholder. The previous largest shareholder, RBio, currently holds a 7.93% stake. The largest shareholder of RBio is Biostar Stem Cell Research Institute, and the second largest shareholder is Chairman Ra Jungchan.

For JointStem, the core pipeline stem cell therapy for degenerative arthritis, RBio is responsible for development, while Nature Cell holds the domestic sales rights. On August 5, after the market closed, Nature Cell announced, "The Ministry of Food and Drug Safety notified RBio via official document that the product approval application for JointStem as an advanced biopharmaceutical was rejected due to insufficient clinical significance, and we have received the related document from RBio. We will confirm RBio's future plans for JointStem, promptly convene a board meeting to decide whether to maintain the current contract, and will submit a correction disclosure immediately upon making a decision."

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