KPS, Major Shareholder Secures Additional Stake

Doommim's Stake Increased from 28.25% to 30.52%
Kim Seongcheol, Head of Bio Business Division, Acquires Approximately 550,000 CB Shares

[Asia Economy Reporter Jang Hyowon] Doomim, the largest shareholder of KPS, has increased its stake, thereby enhancing its management control.

On the 11th, KPS announced that Doomim's shareholding (including special related parties) rose from the previous 28.25% to 30.52%.

This change in shareholding is due to Kim Seongcheol, the head of the Bio Business Division and the largest investor in Doomim, acquiring 550,458 convertible bonds (CB) of KPS, representing a 3.46% stake.

Last month, KPS established a local subsidiary, Algok Bio Inc., in Delaware, USA, to lay the groundwork for global new drug development. The strategy is to enhance the competitiveness of the bio business division by introducing new drug candidates and conducting preclinical and clinical trials.

Additionally, through its subsidiary bio venture BigThink Therapeutics (holding 45.35% stake), KPS acquired exclusive domestic commercialization rights for neratinib, an adjuvant therapy for HER2 (human epidermal growth factor receptor 2)-positive early breast cancer patients, earlier this year. At the end of October, it applied for a Pre-IND meeting (a meeting before submitting a clinical trial plan) with the U.S. Food and Drug Administration (FDA) for the obsessive-compulsive disorder digital therapeutic ‘OC FREE’ and is preparing for clinical trials.