Huons Acquires 31.5% Stake in PanGen Biotech to Build Biopharma CDMO Capability
November 5, 2024
Huons Co., Ltd. agreed to acquire 2,647,378 shares and newly issued shares in PanGen Biotech Inc. for KRW 14.3 billion, taking a 31.53% stake and becoming PanGen's largest shareholder with plans to secure management control and incorporate PanGen as a subsidiary. The deal is intended to strengthen Huons' biopharmaceutical R&D and CDMO manufacturing capabilities, including securing GMP production for human-derived hyaluronidase used to enable subcutaneous delivery of biologics.
- Buyers
- Huons Co., Ltd.
- Targets
- PanGen Biotech Inc.
- Sellers
- CG Invites
- Industry
- Biotechnology
- Location
- Gyeonggi-do, South Korea
- Transaction Type
- Buyout
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