[Market Focus] Solux Surges on News of Technology Export Deal by Merger Partner Aribio

As of 9:30 a.m. on June 10, the share price of Solux, a company specializing in LED lighting, was up 29.78% from the previous day's closing price, trading at 5,600 won on the KOSDAQ market. This surge appears to be due to the announcement that Aribio, a bio company scheduled to merge with Solux in August, has signed a technology export contract worth $600 million (approximately 820 billion won).

On this day, Aribio announced that it had signed a $600 million technology export agreement for its oral Alzheimer's treatment AR1001 with Arcera, a global pharmaceutical company established by Abu Dhabi Developmental Holding Company (ADQ), the sovereign wealth fund of the United Arab Emirates (UAE). This contract grants Arcera exclusive rights to AR1001 in the Middle East, Central and South America, Africa, Ukraine, and the Commonwealth of Independent States (CIS).

Arcera is a life sciences company established by ADQ to foster the bio and pharmaceutical industries, and currently supplies more than 2,000 pharmaceutical products to over 90 countries.

Aribio stated that, with this contract, it has secured a total of approximately 1.94 trillion won in global technology export deals, including contracts with Samjin Pharm in Korea (100 billion won), a Chinese pharmaceutical company (1.02 trillion won), and UAE's Arcera (820 billion won). After the announcement of the global Phase 3 clinical trial results scheduled for the first half of next year, Aribio is pursuing additional technology transfer agreements targeting major markets such as the United States, Europe, and Japan.

The merger date for Solux and Aribio is scheduled for August 26. Before the merger, shareholders who oppose the merger may exercise their appraisal rights from July 25 to August 14.