OcuPM Welcomes Chinese Pharma Hepalink as Second-Largest Shareholder... Accelerates Global Development of Oregovomab

OcuPrime BioM (OcuPM), which is developing the anticancer drug candidate Oregovomab, announced on June 17 that it has restructured its governance by welcoming the Chinese pharmaceutical company Hepalink as a new major shareholder.

Hepalink has become the second-largest shareholder by converting its existing bonds into equity, thereby securing a 21.85% stake in OcuPM. As a result, the stake held by Quest PharmaTech of Canada, previously the largest shareholder, has been adjusted from 36.17% to 26.24%, while the stake held by BSJ Holdings of Korea, previously the second-largest shareholder, has been adjusted from 23.79% to 17.26%.

Hepalink is also the largest shareholder of Quest PharmaTech, holding a 14.78% stake. Through this equity conversion, Hepalink has become the shareholder with the largest direct and indirect stake in OcuPM.

Hepalink is a global pharmaceutical company that recorded approximately 1 trillion won in revenue last year and is the world's largest supplier of heparin active pharmaceutical ingredients (API). The company also operates a contract development and manufacturing organization (CDMO) business, having acquired the US-based CDMO company Cytovance.

Meanwhile, OcuPM is currently pursuing the acquisition of the listed company Adbiotech.