PharmAbcine Decides on 3.7 Billion KRW Third-Party Allotment Capital Increase

Antibody drug developer PharmAbcine announced on the 17th that it has decided to conduct a third-party allotment paid-in capital increase to raise 3.7 billion KRW for operating funds and other purposes. New shares totaling 5,302,565 common shares will be issued at 700 KRW per share. The third-party allotment recipients include Kim Jeong-gyu (CEO, 1 million shares) and Kim Seong-yeon (a special relation of the CEO, 1 million shares), among others.