Apclon Successfully Completes Payment for 19 Billion KRW Convertible Bonds and Third-Party Allocation Capital Increase

Appclon, a company specializing in antibody drug development, announced on the 16th that it has completed the payment for convertible bonds (CB) and third-party allotment capital increase totaling 19 billion KRW on the 13th of this month.

Participants included Daily Bio Healthcare 6th Venture Specialized Private Equity Partnership, Kiwoom Securities, BnB Asset Management, NH Hedge Asset Management, Welcome Asset Management, Focus Asset Management, Kiwoom-Focus 2nd New Technology Investment Association, and GC Tech.

With this funding secured, the company explained that it can enhance its financial soundness while focusing on ongoing clinical trials and research and development. In particular, it will concentrate on completing Phase 2 clinical trials for the successful commercialization of its core pipeline, the CAR-T therapy AT101. The company also aims to successfully develop follow-up pipelines such as the switchable CAR-T therapy AT501 and the bispecific antibody therapy AM105 to meet market and investor expectations.

Recently, Appclon announced that ‘AC101’ has received approval for Phase 3 clinical trials in the US as a gastric cancer treatment, as well as Phase 2 clinical trial plans in China for various solid tumor indications. AC101 is a targeted anticancer drug licensed to Henryus, a subsidiary of Fuxing Pharmaceutical in China.

An Appclon representative stated, “Despite the very challenging financial market environment recently, the payment completion was possible because Appclon’s technology and future growth potential were recognized,” adding, “We will do our best to contribute to the development of the national health industry and enhance value for shareholders and investors.”