HK Innoen Acquires Stake in Japanese New Drug Development Company Raqualia

Acquisition of 10.61% Stake in Laqulia

HK Innoen announced on the 24th that it has signed a contract to acquire new shares through a third-party allotment paid-in capital increase of the new drug research and development company 'Laqulia', becoming the largest shareholder of Laqulia.

Through this contract, HK Innoen acquired 2,592,100 shares of Laqulia, securing a 10.61% stake. The two companies plan to further strengthen their cooperative relationship by jointly conducting research and development of new drug pipelines, including the entry of 'K-CAB' into the Japanese market.

Laqulia is a new drug development company founded in 2008 by researchers from Pfizer Japan. In 2010, it transferred the substance technology of the gastroesophageal reflux disease new drug 'K-CAB' to HK Innoen. It holds a total of 18 new drug pipelines including antibody, gene and protein medicines, and small molecule medicines in the fields of digestive diseases, pain, and cancer.

Kwok Dal-won, CEO of HK Innoen, said, "We expect that through the acquisition of Laqulia shares, the two companies will be able to continue closer cooperation in the field of new drug research and development," and added, "We will actively seek various business cooperation opportunities including the entry of K-CAB into the Japanese market."

Meanwhile, substances developed by Laqulia are being sold on the market as a total of four products including HK Innoen's 'K-CAB' (new drug for gastroesophageal reflux disease) for human use and veterinary medicines through technology transfer.