First Announcement on Company Website After Acquiring LumiMicro
Announcement of LumiMicro's Entry into Bio and Pharmaceutical Business
Maximizing Synergy with Vibozone... Fostering a Global Healthcare Company
[Asia Economy Reporter Hyungsoo Park] Lee Doohyun, CEO of Vivoson, directly revealed the specific reasons for acquiring Lumimicro and Vivoson's listing plans through a notice on the company website.
CEO Lee assumed the chairmanship at the board meeting held after Lumimicro's extraordinary general meeting of shareholders. Lee Doohyun stated, "The acquisition of Lumimicro is a process to materialize Vivoson's pharmaceutical business," and added, "It was strategically carried out to secure production-related infrastructure and a platform for sales and marketing in line with the new drug approval timing of Ofirangerin."
He continued, "It is true that there have been many variables related to the listing since the recent Phase 3 clinical trial results came out," and explained, "We are reviewing various methods regarding the listing plan." Furthermore, he said, "One of the options is a reverse listing through Lumimicro," and "We are actively reviewing the reverse listing of Vivoson through Lumimicro with advice from internal and external experts."
He promised to establish an efficient and reasonable listing plan as one option for Vivoson shareholders to consider.
Vivoson plans to inject an additional large-scale fund of 20 billion KRW into Lumimicro on the 31st. Last December, 20 billion KRW was invested from Voltia and 15 billion KRW from Vivoson, totaling 35 billion KRW. Only two months after the large-scale fund injection, an additional 20 billion KRW will be newly invested. The total funds invested in Lumimicro amount to 55 billion KRW. The alliance between Vivoson and Lumimicro is strengthening.
Through the notice, CEO Lee Doohyun reiterated his determination to "maximize the synergy between Lumimicro and Vivoson and grow Vivoson into a global healthcare company."
Vivoson also confirmed its future clinical plans for its core pipeline, the non-opioid analgesic Ofirangerin (VVZ-149). The company will make every effort to secure the significance of the primary endpoint. Vivoson is targeting the first patient enrollment for the Phase 3b clinical trial on hallux valgus around April to May and is currently finalizing the protocol. After conducting three Phase 3 clinical trials this year, Vivoson aims to complete the NDA by next year and launch the product in the U.S. market in 2022.
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