Kwangdong Pharmaceutical Decides to Acquire 16.9 Billion KRW Worth of Precision Bio Shares

Kwangdong Pharmaceutical announced on the 2nd that it will acquire 3,449,732 shares of Precision Bio, a manufacturer and seller of in vitro diagnostic devices, for approximately 16.9 billion KRW.

After acquiring the shares, Kwangdong Pharmaceutical's stake in Precision Bio will be 29.7%. The scheduled date for the share acquisition is October 2nd of this year.

Kwangdong Pharmaceutical stated that the purpose of this share acquisition is "to establish infrastructure for entering the personalized healthcare business."