Maxlotec Enters Bio Business... Adds Business Purpose at November General Meeting

[Asia Economy Reporter Jang Hyowon] Maxlotek, a KOSDAQ-listed company, is entering the bio business as a new venture.

Maxlotek announced on the 25th that it will hold an extraordinary general meeting of shareholders on November 5th to pursue amendments to its articles of incorporation. To support the new business, it plans to add bio medical device manufacturing, sales, and pharmaceutical, cosmetics, and health food manufacturing to its business objectives. This reflects its intention to shift from manufacturing metal factory machinery and industrial robots to making the bio business its new growth engine.

To this end, Maxlotek decided on the 22nd to issue convertible bonds (CB) to the management of Seongwoon Pharmacopia, a bio venture company specializing in active pharmaceutical ingredients (API).

Seongwoon Pharmacopia is the only domestic company that simultaneously possesses bio technology and chemical synthesis technology, specializing in new drug raw material development. It is conducting research and development on COVID-19 treatment candidates such as Avigan, Nafamostat, and Camostat, and is also known to be planning a future KOSDAQ listing.