Crystal Bioscience Acquires 'Shupeks B&P'

[Asia Economy Reporter Hyunseok Yoo] Crystal Bioscience (CBS) announced on the 8th that it will invest 8.1 billion KRW to acquire 'Shupeks B&P'.

CBS is a new technology business finance company established by Crystal Genomics with the purpose of expanding its scope through open innovation.

The investment funds will be sourced 100% from CBS's own capital by participating in a third-party allotment paid-in capital increase, securing a 27.66% stake in Shupeks B&P and becoming the largest shareholder.

Shupeks B&P will issue 5 million new shares to CBS. Through the acquisition and merger of Shupeks B&P, CBS aims to create new value in the new drug sector through restructuring and thereby increase the value of undervalued companies.

They are also specifically reviewing the introduction of new technologies in synthetic biology, including biobetters, for global biopharmaceutical new drug development, and plan to actively transform the corporate structure after acquisition to support an increase in corporate value.

Prior to investing in Shupeks B&P, CBS, together with global bio investment firm Bellevue Asset Management, proceeded with investment attraction for Vaximm, a company developing immuno-oncology new drugs. They also led a 28 billion KRW investment attraction for Makaon, a subsidiary developing fibrosis new drugs, through New Lake Alliance (PEF).

Additionally, based on their history of being selected as one of the top five domestic private investment institutions including the Korea International Trade Association, CBS achieved the great success of being finally selected as a delegated management company in the Korean Venture Investment Corp. (KVIC) sponsored Mother Fund's ad hoc investment project last April.

Shupeks B&P recorded approximately 20 billion KRW in sales last year (consolidated basis), with expected growth of over 20% this year. The company holds numerous patents not only in automated machinery manufacturing technology but also in biotechnology, and is attempting to leap into the bio industry through its self-developed biobetters.

A CBS official stated, “Through this acquisition, Shupeks B&P, which operates with a stable financial structure, is expected to lay the foundation for growth as a comprehensive bio company capable of expanding the supply of automation equipment in the pharmaceutical and bio sectors as well as developing new bio drugs.”