Yuyu Pharma Issues 30 Billion KRW Convertible Bonds to "Accelerate R&D"

[Asia Economy Reporter Kim Ji-hee] Yuyu Pharma announced on the 15th that it has successfully issued convertible bonds worth 30 billion KRW. The funds secured this time will be used to accelerate ongoing major new drug R&D pipeline research, including for dry eye syndrome.

With the funds raised from this convertible bond issuance, Yuyu Pharma plans to accelerate the development of a total of four new drug pipelines: dry eye syndrome, benign prostatic hyperplasia, and stroke and multiple sclerosis treatments, the latter two announced in joint research with UCLA in the United States last March. Among the four pipelines, the dry eye syndrome drug is the most advanced. Animal experiments showed superior anti-inflammatory mechanisms and corneal epithelial cell healing effects compared to existing drugs, and tear secretion was also confirmed to improve.

This convertible bond issuance was underwritten by Eugene Investment & Securities, with a zero (0.0%) coupon rate for both nominal and maturity interest rates, and a maturity date of June 15, 2026.

Park Noyong, Executive Director and Chief Financial Officer (CFO) of Yuyu Pharma, said, "We expect the acceleration of the major R&D pipelines currently underway at the company through the large-scale funds secured under favorable conditions for Yuyu Pharma."