Orion Completes Acquisition of Global Pharmaceutical Company Ligachem Biosciences

Paid 548.5 Billion KRW for Stock Purchase
Secured 25.73% Stake... Became Largest Shareholder
"Will Emerge as a Global Food Bio Company"

Orion announced on the 29th that it has become the largest shareholder by paying 548.5 billion KRW to acquire a 25.73% stake in the global pharmaceutical company Ligand Chem Bio Sciences (Ligand Chem Bio).

Orion Headquarters
Photo by Orion

Orion participated in Ligand Chem Bio's third-party allotment rights offering and was allocated 7,963,283 shares at 59,000 KRW per share. Additionally, it purchased 1.4 million existing shares from Ligand Chem Bio’s founder CEO Kim Yong-ju and President Park Se-jin at a base price of 56,186 KRW per share, securing a total of 9,363,283 shares. Through its affiliate Ligand Chem Bio, Orion is embarking on new drug development, taking its first step toward becoming a global food and bio company.

Previously, Orion pioneered overseas markets, which were barren in the early 1990s, and grew into a global food company. With a solid growth foundation successfully established both domestically and internationally, it has strong cash-generating capabilities and has been preparing investments for future growth engines.

By acquiring Ligand Chem Bio, the company emphasized that it has established a core axis in the bio business alongside its food business, completing a business portfolio for the group’s sustainable growth from a more long-term perspective.

Ligand Chem Bio is a drug discovery company based on medicinal chemistry and is recognized for its technology in the antibody-drug conjugate (ADC) cancer treatment field. Including the funds from this rights offering and future royalties from Janssen technology export contracts, it will secure approximately 1 trillion KRW in research and development funding. An Orion official stated, "With financial stability secured, we will focus on research and development to accelerate new drug development."

Meanwhile, Ligand Chem Bio held a shareholders’ meeting on the same day and changed its company name from 'Legochem Bio Sciences' to 'Ligand Chem Bio Sciences.'